SPX closed the week on TL S/R without a breakdown. Looking for a good bounce in the next couple week

The S&P 500 closed the week on trend line S/R without a breakdown. Looking for a good bounce in the next couple weeks to reclaim the rally. Without a BO in the next couple weeks - a test of trend line S/R's and the 2278 - 2301 S/R area could occur. A breakdown below these levels would be bearish. Weekly momentum is bullish decreasing..

The MACD formed a bullish up-cross during mid-Q4 with an expanding positive histogram. However more recently, the histogram has reduced over the past couple weeks. Bullish momentum is weakening. Stochastic have been forming bullish higher-low's since Q4 , however, a bearish lower-high has formed over the past week and is descending elevated within the bullish continuation region.

#SP500 #SPX #SP500