US500 ~ Ho Ho Santa Rally or EOY Bah Humbug Bust? (4H)

US500 chart mapping/analysis.

S&P 500 holding in choppy consolidation after November ripper rally.

Trading scenarios into EOY:

• Bullish reaction to macro economic news = break above ~4610 trading range (yellow dashed) towards ascending trend-line (green) / red box confluence zone.
  
• Bullish extension target(s) = re-test ~4820 previous/historical ATH.
  
• Bearish reaction to macro economic news = break below ~4524 trading range (yellow dashed) towards ~4450 / 200SMA dynamic support confluence zone.
  
• Bearish extension target(s) = Golden Pocket / descending trend-line (white dotted) confluence zone aka "Return to Scene of Crime".
  

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US500 chart update (Thurs 14/12):

• Face-ripping rally off dovish Fed Pivot commentary.
  
• Price action = tag, break & hold just above ascending trend-line (green).
  
• Further bullish momentum to push towards prev historical ATH (~4820), otherwise succumb to selling/overbought pressure & mean revert back into year-long ascending wedge formation for consolidation, TBC.