The market has hit a key point that points to a bounce.
We are tracking this consolidation on S&P 500 for the whole year and I believe that the market just reached critical levels.
The index is moving in a triangle consolidation for the better part of the year. From this technical formation it becomes clear, that if the price goes below point E - the bullish trend is over.
SPX managed to stay above the support zone, which coincides with the 200 SMA - a reason to believe, that the price will jump.
Time looks right to add up, continue up through this consolidation, which makes the bigger part of 2018. From here the price could go to point B and then test the old high.
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