SP500 Will fly? US 500CAPITALCOM:SPX500Areh-NarAs we can see, the bullish flag pattern that the index had been forming over the past few days has finally broken out to the upside. Right now, the price is simply making a healthy pullback to continue moving higher from the following levels on the 1H timeframe. As we can see on the 4H timeframe, the price breaks above the top of the channel and, through a healthy pullback, comes back down to test the zone. If looking for buys, wait for a confirmation on the 15M timeframe.