Line in the sand is Range of Support between 4150 and 4200 on S&P500

Weekly Charts to give us a view into where the market is where it might go

What does SPX Weekly Chart show us?
- We could be in the handle formation of a cup
- The handle can pull back to the confluence of support between 4150 and 4200
- The current cup could still go up to fully form at the previous high of 4815
- Extreme bearish from a break down of the bear flag from all time high, towards 3200.

My Take
- Whilst macro wise (war, inflation, rates etc) points to a bearish stance, let's not panic and let the price action show us
- Current showing is that there is still a good likelihood of pushing to the All Time High
- It is obvious too that there is a good likelihood pullback to go to as low as 4150 near term
- But quite bullish if 4372 is retaken upwards
- Respect the MA50 on a weekly chart until it does not (so 4150/4200) should hold

My trading plan
- Cautiously bullish with shorts until 4150
- Long positions if 4370 is reclaimed