S & P 500 Index was detained within a small area bounded by the blue resistance line (the blue horizontal line) and green support line. It will move higher if it can penetrate the resistance area above. As there seems no further resistances above this area, the target could be 1050 as predicted here. The sharp bounce-offs (blue arrows) on the support line and the flat kisses (red arrows) on the resistance line do suggest higher probability for an upward break out.
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