S&P500: Rejection at the top of the 1H Rectangle?US 500CAPITALCOM:US500InvestingScopeS&P500 is strongly bullish on its 1D technical outlook (RSI = 64.887, MACD = 4.540, ADX = 28.361), being on a rally following the recent S1 bounce. This is a 1H Rectangle pattern with already 4 confirmed points of contact. Being so close to its top (R1), the index technically eyes a new bearish wave to the S1 (TP = 7,050). That move can potentially test the 1H MA200. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##