S&P500 Huge buy signal confirmed

Following last week's buy signal (chart below) on the S&P500 index (SPX), we shift our attention on the 1W time-frame where the new long-term buy signal has just been confirmed:


As you see, the price closed above the 1D MA50 (red trend-line) yesterday, invalidating any bias for further decline and confirming the resuming of the long-term bullish trend within the Channel Up pattern since the October 2022 bottom.

The 1W RSI rebounded exactly on its Higher Lows trend-line, giving a strong bottom signal where previous rebounds have been completed at least a +9.85% rise. As a result, we update our long-term target to 4750.

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