S&P500 Short-term pull-back possible but bullish target intact

The S&P500 has extended its rise since our buy call 11 days ago:

We are slightly modifying the technical parameters within this Channel Up that started back in November as the 1D RSI broke above its 3-week Resistance and on the previous bottom fractal of late December/ early January that translated into a price Resistance rejection and pull-back short-term to the 0.5 Fibonacci retracement level. From the current 4080 Resistance, the 0.5 Fib is at 3945.
This doesn't negate our long-term outlook, which is bullish towards a new Higher High within this Channel Up. Our target is for safety at 4190 (below the 4195 Resistance), but the technical wave can extend as high as +11.00% from the bottom (as the previous two Higher High waves did) and hit 4230.
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We are slightly modifying the technical parameters within this Channel Up that started back in November as the 1D RSI broke above its 3-week Resistance and on the previous bottom fractal of late December/ early January that translated into a price Resistance rejection and pull-back short-term to the 0.5 Fibonacci retracement level. From the current 4080 Resistance, the 0.5 Fib is at 3945.
This doesn't negate our long-term outlook, which is bullish towards a new Higher High within this Channel Up. Our target is for safety at 4190 (below the 4195 Resistance), but the technical wave can extend as high as +11.00% from the bottom (as the previous two Higher High waves did) and hit 4230.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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💸💸💸💸💸💸
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.