Index has formed a falling wedge with a climax, a falling wedge breakout on the upside can be considered a buying opportunity in the index, breakout on the downside will be an opportunity to enter short.

Index closing above the wedge with price trading above the EMA would be an extra confirmation to buy.

RSI above 63 will give a strong confirmation to buyers. MACD has given a crossover on the upside below 0 indicating buy signal.

A breakout on the upside in a 15min time frame would be an opportunity to enter longin the Index.

SP500

Jul 08 2022