SPX: the stock market rally will continue
Trade: long
Target 1: 4540
Target 2: 4700
We have already posted our thoughts about the economic situation in the United States in our NASDAQ overview -
Technical analysis
On the pre-market S&P500 dropped to 4320, but got bought right away. It looks like the price is forming the head-and-shoulders pattern. Look for the shoulder line breakout as it will be a signal for the long trade opportunity with the target at 4540.
Target 1: 4540
Target 2: 4700
We have already posted our thoughts about the economic situation in the United States in our NASDAQ overview -
Technical analysis
On the pre-market S&P500 dropped to 4320, but got bought right away. It looks like the price is forming the head-and-shoulders pattern. Look for the shoulder line breakout as it will be a signal for the long trade opportunity with the target at 4540.
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