Bull Case - S&P500 to 4113

Bull case gives a target for longs of 4113 - at 1.618 fib extension of February 2021 correction and top of ascending broadening wedge. Could see this play out as quick as this week or next week.

Still not 100% convinced the bear case is over given US Dollar index (DXY) price action and Bond yield (US10Y / US30Y) price action of late - but if it is this is the logical next target on daily timeframe.

4hr is slightly extended and could see some pullback overnight / tomorrow - if 3950ish (purple dashed trendline) holds this is a good entry spot.

註釋

Purple TL touch

交易結束：目標達成

註釋

may well continue higher (perhaps to top of ascending broadening wedge) but 4hr looks very toppy imo - would like to see a healthy pullback before continuation higher to new ATHs - whether looking to short or open more longs at support targets for pullback as follows:

- TP1 - 4000 - retest of purple (2020 lows) trend line
- TP2 - 3964 - retest of previous ATH

Daily -