S&P500 resumed its uptrend after pushing through the channel resistance (noted in a previous post) into the next time cycle. Nevertheless, the uptrend seems to have finished at the Fib extension before breaking down the steep uptrend line coming from late August. Therefore we have an increasing probability to see the index trading back into the ascending channel. If 1185 recent high is overcome, the next target is 1215 - 1220 points where we have this year high.
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