SPX Bullish As Long As 2700-2735 Holds


Small wedge broke. Big wedge holds. Support is at 2735. Cloud support at 2700. Upper BB at 2800, mid-BB at 2733.

Simple thinking. Holding above 2730-2700 the chances favor bulls for at least a run towards 2800. The upper blue wedge boundary is at 2850. Break the blue wedge and the Daily cloud support, the price will be in danger of another February sell-off towards 2450. Do not get married to a single scenario and view. Be open to other scenarios and use the important support and resistance levels in your favor for the short-term.

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