Weekly Chart
Spotted a bullish Cup and Handle formation.More bullish breakouts above the 1220 mark shown by the blue horizontal line are necessary to give confidence to the bulls to advance towards the bullish target of 1773.
Daily Chart
The S&P 500 is facing resistance at the 61.8% retracement of fall from 1576 to 666 at 1228 since the last 5 weeks. Scaling past this level would target the inverse head and shoulder target of 1246 shown earlier.Supports are at 1213-1206-1200.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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