The S&P 500 has been trending higher for weeks.
The uptrend remains intact, with the price strongly bid after breaking up through 2,212 recently. Last week, there was an inside bar set-up, indicating that a move is imminent.
There might be a false break lower followed by a strong recovery, which is something to watch for this week. Alternatively, watch for a subsequent price action buy signal on any pullback in the market.
Prices look likely to rotate back toward the recent core near-term support at 2,212, which could provide a buying opportunity, but more aggressive traders may watch for a simple breakout of the inside bar pattern seen below. We see the potential for price to move back to recent highs and beyond.