Hi Traders,

The trend has changed.

Yep, we've cleared all that resistance I've been talking about on the S&P, and we're trading higher.

Check it out:

On Friday, we bounced off my support level and got a doji candle (price opened and closed in nearly the same spot, a sign the trend may be turning, in this case the downtrend). Sure enough, we got our confirmation Monday as we traded higher.

Monday cleared our downtrend line and the 20-day moving average.

Tuesday, we revisited the 20-day moving average and blew through the median line (the red center line of my pitchfork, the three-line tool that maps where price should find support and resistance).

We're now trading in the next channel, and our next resistance is the previous all-time highs at $7,629.75.

Above there, the top of the channel comes in at $7,730.75, which is our price target into next week.

If we do get a bull trap here (a false breakout that sucks buyers in right before price reverses lower) and roll lower, we need to close back below the median line at $7,513.75.

Our pitchfork has been working beautifully.

Thank You for Reading … See You Next Tuesday,

Licia Leslie