- Ascending triangle formation of SPX is showing a breakout.
- Price has to stay above 1277 and 1292 levels which may act as resistance now.
- 50 Day SMA is rising towards 200 SMA for a bullish cross over to happen. For this the current resistance level 1292 has to be taken out easily. Failing to move above 1292 may give a bearish trade. Price closing below 200 SMA will be the first sign of weakness.
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