SPX remains in bullish mode

Greetings everyone!!! SPX futures are trading slightly in negative territory around 2925 after reaching last week the 2950 target (futures high at 2947) we posted in our previous SPX analysis here.  Short-term support is found at 2920-2910 area.

I expect this support area to hold and price to bounce to new all time highs from current levels.

I expect prices to continue to trade inside the bullish channel and this looks the most probable scenario as long as we trade above 2900. Only if we break below 2865 I will consider the entire rise probably complete. For more detailed analysis and my personal trades, subscribe to our strategic newsletter.

 

Thank you for taking the time to catch up on my thinking

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