New Signal: The US S&P 500 Index Is In a Rally Mode Within a Long Term Bearish Trend. See Our Target

The US S&P 500 Broke out of a Cup & Handle chart pattern and is in a bullish near term momentum up. Our chart below show our near term target price at $2,800. Traders can get long here and expect to hit target in the next few days maximum. In addition keep in mind that the market is in a confirmed long term bearish trend and price strength provides new opportunity to short the market again at resistance level.