S&P500 Technical Analysis: Inverse Head-and-Shoulders pattern – Correction over – Game on for bulls  – 2,820.00 target

S&P500 daily chart

• The S&P500 an inverse head-and-shoulders pattern, which can potentially be bullish.
• The RSI is turning bullish, while the MACD and Stochastic are already in positive territories.  

S&P500 4-hour chart

• The S&P500 found strong support at the 2,680.00 level as the bulls reclaimed the 50-period simple moving average (SMA).  
• Technical indicators are picking up speed suggesting continued bullish momentum.  
• The bull target is at 2,820.00 swing high. A bear breakout below 2,680.00 would be considered rather bearish.  

S&P500 30-minute chart

• The market is almost in full bullish mode on the 30-minute chart.  
• The S&P500 broke above the 50 and 100 SMA while technical indicators are in positive territories.  

Additional key levels at a glance: