"On the SPX weekly chart if you look at the MACD (12,26,9) it has been bearish for quit awhile. The last time it was in it's current position, a LT Bull Rally followed."
It is still on the Bearish side and the gap is still large but narrowing. If it eventually makes a bullish crossing. I expect SPX 1200 will follow.
The Daily chart is quit OB so I would expect a pull back ST. But the Weekly & Monthly have alot of room to the upside.
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