A quick update to my last S&P 500 idea where I called for a breakout rally to 2620 before getting sold off (see it here). The chart above remains the same. I think we are seeing that very false breakout on a bullish wedge at 2600 on the hourly charts. There is a chance the bulls can take it to 2620 before selling it off, but that is less likely.
Be prepared for a reversal today.
Be prepared for a reversal today.
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The bulls have shown their might here, pushing through resistance!