S&P: Bullish but in need of a pull back.

The index has capitalized considerably on December's low, creating a strong 4H Channel Up (RSI = 57.058, MACD = 20.290, B/BP = 4.4419) which peaked yesterday at 2,596.75. Considering this a Higher High, we expect the price to pull back in order to set a new Higher Low, necessary to help the index reach even higher values. Although the technical estimates place the next Higher High at 2,670, taking into consideration the volatile geopolitical environment we will be buying this pull back for a more modest TP = 2,600.





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