This chart says don't be. Again, this is not to say I am some kind of swami that can see the future. I can't. All I can see is a weekly chart of the S&P 500 that gives no reason to be bearish. Bottoming pattern with up triggered MACD and constructive stochastics. A break of the 875 cluster raises a red flag and 850 remains our barometer for exponentially increasing risk.Daily moving averages were noted for the NDX in NFTRH that need to hold ("risk will be defined as increasing upon a break and close back below the SMA 50"), but they are not under threat as of yet.
So until signals are invalidated, SPX heads for 1060 at a minimum with potential up to the 1200 area.
