Chart of the Day: SPX – FXStreet

The longer term megaphone pattern says we could see either the 3500 or 4100 level in the coming weeks. The triangle inside the megaphone is defined by the 3900 level (tested today) and the 3740 level which we traded slightly below last week. A move out of the triangle will probably dictate which end of the megaphone pattern we test first. RSI has moved back to midrange which really suggests either scenario of possible. 

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