🔱The S&P 500 has staged an impressive recovery after breaking above the descending trendline and reclaiming bullish momentum. Price is now approaching the previous highs, where sellers may attempt to defend the resistance once again.

🏆Previously:

📈 Bullish scenario

If buyers manage to break and hold above the current resistance zone, the uptrend is likely to continue with fresh highs becoming the next objective. The recent breakout confirms that momentum remains firmly in favor of the bulls.

📉 Bearish scenario

A rejection from the resistance zone could trigger a healthy pullback toward the nearest support areas. As long as higher lows continue to form, any correction may simply provide another buying opportunity within the broader uptrend.

The overall structure remains constructive, with buyers in control after the trendline breakout. The reaction around the current resistance will determine whether the next impulsive move higher begins.