Upwards Channel

A few days ago sentiment trader suspected that bears were coming back into bonds, and the market was about to see some more green. And here we are on the S&P 500. See how we are still in the upwards channel with a little bit more room to move north.

After an annoying August and sideways grind we have finally broken to the upside and likely to see a bit more upside action. It will be interesting to see where the bulls want to take us from here. But as you can see on the chart below there are some short term targets on the card.

There are some important announcements / news coming on Friday, however we always come back to our favorite statement that the "news always comes out in the charts first!" and nothing can be more further than the truth!. So we shall see what the market will bring to us with one day trading left for the week. 

Happy Trading :-)  

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