Looking at the attached graph, using daily channel analysis, the SPX (S&P)will meet significant resistance when it hits about 855 on the S&P. If the SPX can close above 855± for a couple days, then the intermediate bull market is in force and this suggests the rally continues. As I have taken some long positions, I will be monitoring this price level carefully for any pull-backs.
The next resistance after 855 is 875; then 900. Support is at 825; then 800 and 780.
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