S&P 500 INDEX - $SPX
Monthly chart shows index remains extremely bearish. No buy signal/pattern evident on this timeframe.
Weekly chart remains weak, with no buy signal/pattern evident on this timeframe.
Daily chart shows the index remains stuck in consolidation. Friday's price action resulted in a hammer candle pattern. Will some aggressive buyers show up next week? Possible gartley butterfly pattern in place. IF there is initial aggressive buying early next week, THEN look for upside target to be in the neighbourhood of 900.
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