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SPX 🎯Bullish🎯Bearish🎯 Bullearish? What's The Next Big Move?

Going through the daily timeframe over the past few weeks and this has been an absolute nightmare of a consolidation range between 4160-4100.

It has been boring, no real big moves, which we normally were used to seeing at least 50-60 point moves a day on SPX. Lately it has been nothing of the sorts.

With that being said I put together a chart on what I think we could be looking at if we break bullish or bearish.

Today on May 17th, we ended at 4158, a 49 point move and over 1% gain on the day.

  • If bears want to keep control, they need it to stay under 4154, and in that consolidation zone

  • Breaking below 4099 would look to fill the gap to at least 4082

  • If we continue that bearish trend, it would test the 4150 area, then to 4030-4000

  • Bullish breakout over 4183 would attempt to fill the gap to 4218

  • A bullish breakout over the 4183 level would cause massive bullish momentum towards 4240

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