S&P500 Index: Rebounded from weekly cloud chart support level!

S&P500 Index: Rebounded from weekly cloud chart support level at 2612! Closed the week above the cloud, and that's bullish! Bottom of the cloud remain a key support zone!

Bullish trend still in place on weekly cloud chart since price action is above the cloud!

Risks remain since we have had a MACD sell signal above the cloud as well, and that remain a concern. But I am bullish on the rebound into the year end from the top of the weekly cloud chart level.

On the daily cloud chart there is upside potential up to the bottom end of the cloud chart resistance zone!

The S&P500 did manage to rebound from old support levels at 2612 zone! So far so good. Expect a rally into the year end!