Blue lines- Fibonacci extension targets
Violet lines- Fibonacci retracement levels
SPX is trading again above $4,000 as price has managed in two trading sessions to eradicate recent losses in SPX. Price made a high at 4,015 and then pulled back towards 3,900 and the 50% Fibonacci retracement. Price formed a higher low and is ready to break above recent highs to provide a new bullish signal. First upside target is found at 4041, if 4,015 is broken. 2nd target is the 100% Fibonacci extension target at 4,140.
