SPX bounce from the support zone
SPX bounced from 3500 and is breaking above 3650. It has broken above the short-term descending wedge and is continuing to the upside by retesting the broken 3640 resistance. There is a lot of space in the long-term descending wedge to the upside of the 4100-4200 zone to be tested. Invalidation will come only by a break below 3500 which is a low probability.
Note: look for the long trades with a stop loss below 3600
“If you think Investing is risky, wait till you receive a bill for not Investing!” Jim Rohn
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