FX.co ★ Short-term SPX analysis.

Black lines- bullish channel

SPX is trading around $4,122. Trend remains bullish as price continues making higher highs and higher lows. Price is still trading inside the upward sloping channel since July low at $3,720. The RSI has already provided us with a bearish RSI divergence in the 4 hour chart. Price is challenging support at $4,100. Failure to hold above $4,100 would be a sign of weakness and could push SPX towards $3,900.