Timonrosso

SPX also showing strong upside to come with a C&H target 4,600

Long
SP:SPX   L'indice S&P 500
Cup and Handle has formed over the last few months.
We have had a break up out of the brim level and now looks like the price wants to bounce and run up further.
This is following onto the long position and update we did with the SPX a few months ago.
As traders we need to adjust course and apply new patterns as they come.
7>21>200
RSI>50
Target 4,600

With the Jobs added better than expected last Friday and with the signs of an economic recovery, The US is showing strong signs of a rally.
This could be before the catalyst for the expected fall.
Regardless, I am bullish for now and the charts don't lie!

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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