S&P500: Rebounded from support, but not out the woods yet!

S&P500: Rebounded from support, but not out the woods yet!

S&P500 index found support at old cloud chart support zone from back in June 2017! Now the upside potential is up to the bottom end cloud chart resistance zone! 

Big picture remain bearish since price action is below the cloud on both daily and weekly cloud charts!

We not out the woods yet, we need to see the price action taking place above the cloud on the 60min chart to start seeing the early signals of a new uptrend. Critical weeks ahead!

Short-term bullish up to bottom end cloud chart resistance zone!

But daily and weekly remain bearish!