SPX bullish all time frames. Support at 3509.
The SPX continues to hold its bullish tone on all time frames and is attempting to retry its intraday high of 3674.
Pay attention to the monthly supertrend line on the monthly chart currently at 3645. As we enter into the traditional year end Santa Claus rally, the bulls must break the supertrend line to the upside coming dec to maintain the rally into 2021. Failure to break and hold the supertrend line puts the uptrend in the ST at risk.
Short term support at 3509 must hold.
A break of 3509 will see a ST downtrend to test 3446 and 3325.
Pay attention to the monthly supertrend line on the monthly chart currently at 3645. As we enter into the traditional year end Santa Claus rally, the bulls must break the supertrend line to the upside coming dec to maintain the rally into 2021. Failure to break and hold the supertrend line puts the uptrend in the ST at risk.
Short term support at 3509 must hold.
A break of 3509 will see a ST downtrend to test 3446 and 3325.
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