![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-errf6I4szDzR44ag3wZEqBgLeE33UAEbgs9HZjOr7Zvv3iUpVYTGWe5k3qDjWULH8PPwoT1GJGC-TmhNvB9cqByB0cjdE1vsxzSHYtKDtXqFeQChtSsMSawpbmoHag1aBeaCRoV_Rh0/s640/spx+weekly+chart.gif)
- Hour chart has closed above the contracting triangle. Price not showing big momentum and has some resistances to clear before confirming a bigger breakout.
- Daily is showing good support at 20 Day SMA. Bears cannot hope for a bigger correction as long as price stays above this level.
- Weekly chart trying hard to stay above the resistance line of the wedge. Clearing the range mentioned in the weekly chart should result in a bigger move.
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