S&P500

I am updating my previous forecast for the S & P500 index. We have a completed Wedge pattern (white lines), which has been broken through and should start its execution, however, thanks to a number of positive news, the index climbed up and is now in the stage of retesting the lower edge of the Wedge and the upper boundary of the large 4-month channel (see the red circle). On Friday, there was a large quarterly expiration of futures and options, therefore, we expect great volatility in the markets. Now there is a binary situation - we can both break the channel up and start executing the Wedge pattern with the same probability. However, the state of the RSI indicator with the existing divergence indicates a greater probability of the beginning of the correction. We work according to the situation