SP 500 FUTURES Closed above 4176 Support but the Downside Is Threatening

  • SP500 FUTURES closed above the support level of 4176, which is good for the bull; however, 4180 is very close to the 4176 support.  In essence, it posts some ambiguity at the moment.
  • On the hourly Renko chart below, it looks like a small head and shoulder formation is building.
  • If 4176 support holds, the index can continue to move higher.

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