S&P500 above the 1D MA50 after 3 weeks.

S&P500 (SPX) is already going even better than our bottom buy signal last week (May 02, see chart below), having topped the 4H Channel Up, considerably above the 4H MA200:


The index closed yesterday above the 1D MA50 (blue trend-line) for the first time since April 11. Last time it did this was on November 03 2023 and after 5 days of consolidation, it broke the previous Lower High and resumed the long-term bullish trend by forming a Channel Up.

It's first Higher High target was within the 2.236 - 2.0 Fibonacci extension Zone, so once it breaks the April's High, we will add more buys, targeting 5650 (Fib 2.0).


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