Recurring consolidation 4H patterns on S&P before a bullish leg?

21 May 2018

The current sideways pattern on 4H (ADX neutral = 20.362) is seen two times more in the previous month and always resulted in a bullish spike near 2,790 before declining sharply to or even below 2,650. The critical day is tomorrow. If 2,745 breaks then the pattern should repeat it self backed up by very bullish 1D RSI = 59.474, Highs/Lows = 13.3750, MACD = 16.130). Otherwise, we have to wait for 2,700 to break, in order to short.