Notice the trading volume on March 10th. I believe the rally will last longer than I expected.
As The Olympics Loom, Brazil Lurches From One Crisis To The Next
Watch the support level 1980. The index should be kept above this level if it's still a bullish market. Also we note that the MA200 is strong resistance, .
The next resistance level is 2000 and MA200 (Daily Chart). Be careful.
The PBoC is a very important factor to the world market. But I doubt how long will the rally last. nexus.nordea.com We probably can long SPX500 in the next a few weeks, but I will not recommend that.
On the 4hr chart, the MA200 shows clearly that the trend is changing!
Affected by China changing its monetary policy
A few hours after SPX500 broke out its resistance level, it fell back to the resistance again. That's not a good sign. Usually, we expect a rally after the break out but not fell back.
SPX500 is trying to break out 1947. This is the second time it tries to break out and stand above 1947. If it can not break out the box, it will go to seek a support level around 1875 or 1825.
I don't know when will the bearish market come. (Not now, it's just high volatility). I will suggest if you can not understand what's going on and confused by the market movement. Just keep away from it, and watch.