SP500 Idea. Breakout or another Pullback?
The Weekly is still currently still bullish. the Daily is starting to slow down and showing is a bear channel. My idea is that if the bulls manage to close above strongly with follow through theres a good chance bulls will breakout and continue the next leg on the higher time frame. Theres also a chance bulls fail to breakout above the channel and back inside of the bear channel range. If that happens then watch for the lows of the bear channel to be tested. Until then we wait for Price Action to react at these key levels.