S&P’s in Digestion Phase

the big picture remains the same. There is a consolidation near the late 2018 breakdown gap, which represents digestion period. S&P’s 2760 is the line in the sand. A close above that level could trigger acceleration toward 2800

S&P Overbought and Due to Consolidate

S&P is overbought and due to consolidate. Nevertheless, the overall technical backdrop remains positive so pullback should be shallow and quick. With that said, while some backing and filling would not be a surprise, if the S&P could pause and hold above 2730 then a move above 2800 would be easier to be sustained

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