S&P 500 base and recovery trend aims still higher
· A high level digestion through midweek of the surge through 1906.0 and next targets 1918.0 and 1931.25 to reinforce the shift back to a bullish tone this week.
· This leaves bias still higher, whilst above even modest support at 1925/24.
· We aim for targets at the swing highs at 1968.5/ 1971.0 late this week.
· Overshoot threat is to 1978/79, maybe 1992.5 for latter October.
· Initial support is now seen at 1920.0, with a firmer area at 1905/04.
WHAT CHANGES THIS?
· Below 1885.75 eases bull risks; through 1870.0 signals a neutral tone, only shifting negative below 1848.0.
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4 Hour S&P 500 December Future Chart