S&P500 showing all time highs thanks to 200MA

In the weekly chart of the S&P500, we can see the price has been on a continuous uptrend since 2011.
It’s moved from 1,170 up to a high of 4,834.
One indicator that I believe has helped this uptrend, the squiggly black line. This is the one and only 200 Day Moving Average.
This is the indicator that all investors and traders take note of. When the price is above the 200MA, the price is in a bull market.
And when the price is below the 200MA the price is in a bear market.
It is clear to us that since 2011, the 200MA has been a trampoline for the S&P500.
Each time the price touches, not only does it rally. It goes beyond to new all time highs.
And guess what happened last month?
It touched, and we got our rally.
On top of that, we have Falling Wedge in the chart (Triangle formation).
This is where the demand and supply drops, where the market consolidates before the next leg up.
As we’ve had our 200MA price touch, we can expect the S&P 500 to rally to a target of 4,834.