Blue line- support trend line
Green line- support trend line
SPX is trading around 4,100. Short-term trend remains bullish as price continues to respect the short-term support trend line and is still making higher highs and higher lows. SPX can continue its rise towards 4,250 as long as it respects support at 4,050. A break below the near term support trend line will open the way for a decline towards the green support trend line at 3,930-3,950. SPX has formed a major low at 3,490 and since then is making higher highs and higher lows that could be the start of a new up trend.
