Hello traders, as we all know SPX broke out of the ascending wedge that was previously thought to bring upon a big correction that I also was certain was going to happen. However, on the chart I have plotted a projected ascending channel and support/resistance lines. Now I am always someone who goes LONG on SPX but I don't think its unreasonable for the price to test anyone of the plotted support/resistance lines charted. Who knows we may even stay within this channel for some time yet before another 'correction' will occur. keeping in mind there is no way that I think the FED will allow something catastrophic as levels around the coronavirus early 2020 but once the cash flow stops then I can see something juicy setting up. keep say and trade safe.
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