There are two potential bullish events that could occur during the week of 12/05/22 to 12/09/22.
The first is a break above the declining trendline from the January 2022 top.
The second is a possible weekly RSI move above 54.81, this is the highest weekly RSI reading of the SPX June to August rally.
The current weekly RSI reading is 53.69.
An RSI move above a prior RSI high reading is usually a bullish signal.
In this case if next week the weekly RSI moves above 54.81 it implies price could move up to at least SPX 4280.11.
Mark
The first is a break above the declining trendline from the January 2022 top.
The second is a possible weekly RSI move above 54.81, this is the highest weekly RSI reading of the SPX June to August rally.
The current weekly RSI reading is 53.69.
An RSI move above a prior RSI high reading is usually a bullish signal.
In this case if next week the weekly RSI moves above 54.81 it implies price could move up to at least SPX 4280.11.
Mark