In a day time frame, SPX still rides this uptrend wave as you can see in the . I drew an uptrend line in the FT and it has yet break down below this line; so, it is very much still in an uptrend, but it has a very narrow upside because there is this resistance in the FT around 3.19. So, if it hits that then there could be correction again and this time also a divergence which signaling a weaker momentum. Nonetheless, I recommend "Long" because there's a cross in the FT of day time frame already and there's still a cosiderable distance of upside before this next resistance in the FT .
In the week time frame, looks really good ... why? because the FT has recently crossed up and seems like it did pattern. Also, price still ride in this uptrend line which suggests the same view I discussed in the day time frame. Nonetheless, as you can see, FT week crossed up at a really high zone - personally, I hate when FT crossed above zero because the signal is not as strong as the one crossed up below zero - thus limited upside. Basically, I think both day and week time frame are telling us the same thing; it still gonna go - even the price suggested so - but limited upside. I think the best target price is when day FT starts hitting that resistance I drew.