SPX - Short Term Support/Resistance with 2,975 Target

SPX warmed up this week, and it is just the beginning.  Minor resistance is overheard with support building at the 2,700 level.

30min Chart

Ultimately, SPX is moving towards a price target of 2,975.  The channel is clearly defined with a shallow slope that is sustainable.

Daily

$SPX - Weekly signals Big Bounce Ahead

SPX was unable to maintain rising in the steep slope of the main pink channel.  Another channel has formed, and the slope is gradual.  Outlook for SPX remains positive as price will likely rise in the blue channel next.

The weekly chart of SPX is signalling a big bounce ahead.

Daily Chart

Bitcoin - Before/After

Bitcoin has declined off the white trendline identified in July.  Price is approaching the target area.

A bounce is possible short term, but lower prices are likely ahead.  Price action is consuming time, and the bottom may not form until next year.

Daily

July 16, 2018:

Daily