https://www.tradingview.com/x/SR5yzdt4/
With the W-formation at 4200, 4 strong days and the recent break of the EMA50 and EMA200 on Friday it becomes more likely that the S&P can even rise a bit more the next 2..3 weeks.
Due to the midterm elections 2022 and the related higher volatility in August -October as well as increased uncertainties is likely that we loose that gains again until the midterm elections, before taking course to the ATH at 4800 and above.
For that scenario it would be important not to close below the EMA50 during the next week.
With the W-formation at 4200, 4 strong days and the recent break of the EMA50 and EMA200 on Friday it becomes more likely that the S&P can even rise a bit more the next 2..3 weeks.
Due to the midterm elections 2022 and the related higher volatility in August -October as well as increased uncertainties is likely that we loose that gains again until the midterm elections, before taking course to the ATH at 4800 and above.
For that scenario it would be important not to close below the EMA50 during the next week.
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Update of possible path: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.