S&P 500 correction
· An indecisive end to the week, another new recovery high maintains and reinforces the bullish breakout to leaves upside risks intact later this week and for latter September.
· For Monday/ Tuesday, however, the setback Friday likely points to a further corrective dip, already through 1997.25, and 1993.5, for 1989.0, maybe 1983.25.
· We would look for better support at the 1983.25 spike low to hold, however, for bullish pressures to resurface this week.
· Looking forward, we still aim higher, for 2020.0 and maybe 2026.5 this week, maybe still higher for 2032.75 and even 2040.0 into late September.
· WHAT CHANGES THIS?
· Below 1997.25 eases bull risks; through 1983.25 signals a neutral tone, only shifting negative below 1968.0.
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4 Hour S&P 500 E-mini December Future Chart