S&P500 daily update

Nothing to suggest that we are there yet, but another arm of the split T structure complete and lots of implied resistance in the 1990s.

Wow what a day, a huge short covering rally after the 'sell signals' on Friday and Monday.
Too many bears.

Interestingly we are now above the gray channel and at the upper bollinger, so a pause and perhaps even a pullback may be necessary.

A small reversal in line with time and price, and a touch of the top grey channel.

Maybe, just maybe, we initiate another pullback to the 1840s. Or we do pause and grind towards 2000.

Interesting, strength above the 55 is a very good sign.

But the ellipse tool is suggesting that the bounce of the whole move from new year is now done.
This means that if we don't crack here then the trend has changed.

We didn't stay below 1893 long enough to be convinced on a short position, and strength back above 1910 is bullish.

Looks like another attempt at the 55 ema, and maybe then a re-test of the 1850 area.
Looks a lot like February 3.

Close to a cover signal, but watch out for support in the 1910 area if we are just going to turn back up again.
Curious to see if we do get through the strong resistance -1940-50 because if we do then we target 2025.

Price still very bullish, but looking like short term resistance about to be tackled at 1950.

The Mob, ellipse and 70 day pulse are all looking for a top in the next few days suggesting that 'if' this is just a bear market rally then this is where the turn will come.

First test of the rising support line successful but without any follow through.
Unconvinced either way.

Expect usual shenanigans around option expiration. A pull back to 1900 or even a pop to 1950 make sense.

I'm expecting to see some major resistance around the 1940 area, if we get there. (pale blue descending diagonal).
If we can get through there then maybe we can rally up to 2000.