💾 S&P 500 Index | Strong Bullish Confirmation

15 Feb 2023

We have really strong confirmation for the case of additional bullish action when we look at the weekly SPX chart.


S&P 500 Index Weekly Standard Bullish Signals

• Trading above EMA300/MA200 (long-term).
  
• Trading above EMA10/21/50/100 (short/mid-term).
  
• Very strong RSI (57).
  
• Major one-year-long downtrend broken. (From January 2022 to January 2023).
  
• Crossing through red cloud. (Down through the green clouds, up through the red clouds).
  
• Two weeks sideways consolidation above EMA50 and the rest of the moving averages.
  

All these are very strong bullish signals as this is the weekly timeframe.

How far up will it go?

In this wave the main target is 4641... We will look at the rest on a different occasion.

Thanks a lot for your continued support.

Namaste.