S&P500 Index : Cloud Chart rebound rally now running into major Cloud Chart resistance at the 4068/4157 zones! Need to see a sustained breakout past the top end of the Cloud level of 4157 for the outlook to change to bullish on the weekly Cloud Chart. Downside risk if resistance holds back down to 3932 the TL of the CC, 3908 the STD line of the CC, and then the bottom end CC support zone at 3835!
The rally is not out the woods yet and there is February seasonal downside risk to keep in mind! Need to see that breakout!
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