S&P500: Targeting 4,570 but may take a while.

S&P500 made a new yearly High today after the U.S. CPI report and solidified the 1D bullish technicals (RSI = 66.131, MACD = 48.400, ADX = 25.681). The MACD indicator if it makes a bearish cross, it will form a similar pattern to the start of May where it turned the index into a 2 week consolidation before making a new High.

We will wait for a pullback near the 1D MA100 before buying or will make a breakout buy if the price crosses over the R1. In either occassion, we will target near the top of the four month Channel Up (TP = 4,570).

Prior idea:


## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##