Late last week the S&P 500 Index (and broader stock market) made a u-turn and rallied into the end of the week.
That rally is continuing today and has confirmed a near-term low.
We triggered an ellipse turning point indicator today and appear poised to move higher.
The stock market reversal also comes from oversold levels.
A close over 2819 on the S&P 500 will then target 2872.
Our next money flow price target is all the way up at 3040. That would only come into play on a weekly close above 2872.
S&P 500 Chart
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