Apart from the long term Channel Up since March, S&P500 is trading inside a short term one in the last 10 days. This is much alike the one in April. Both started after a +4.70% rise. Eventually the April fractal pulled back to the 0.5 Fibonacci level and the MA200 (4h).
Trading Plan: 1. Sell on the current market price or as close to the Channel as possible.
Targets: 1. 4500 (0.5 Fibonacci level and expected course of the MA200 4h).
Tips: 1. The (4h) RSI is also forming the same Channel Down pattern as April.