US 500
Long

S&P500 1 month rally ahead. Target 6300.

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The S&P500 / US500 is trading inside a Channel Up since mid July 2024.

Today's downside gap opening tested the 1day MA100 for the 2nd time in 2 weeks and buying pressure immediately kicked in.

The 1day MACD pattern is identical to the September 06 2024 1day MA100 rebound. This ended up with a rally to the 1.786 Fibonacci extension.

Buy and for the next 30 days at least target 6300 (1.786 Fib).

Previous chart:

S&P500 bottomed on its Falling Wedge. Strong short term upside.


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