S&P500: 5 week Channel Up targeting 7,750.US 500 IndexPEPPERSTONE:US500InvestingScopeS&P500 turned overbought again on its 4H technical outlook (RSI = 70.951, MACD = 30.680, ADX = 66.973) as it found support last week almost on its 4H MA100, at the bottom of the 5 week Channel Up. This initiated the second bullish wave of the structure. Medium-term target the top of the pattern at +5.88% (TP = 7,750). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##