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S&P500 Double level rebound targeting +4900.

S&P500 has made a strong rebound yesterday (big wick on the 1D candle) after reaching exactly as low as both the Higher Lows trend-line (dashed line) of December 03 and the 1D MA100 (green trend-line). This is a Double Support Event. The 1D RSI at the same time made a Double Bottom similar to previous bottom formation sequences within the 2021 Channel Up and is forming Higher Lows. At this stage we expect this to be the start of a 1.5 - 2.0 month bullish wave towards the top of the Channel Up and the 2.0 Fibonacci extension, with our Target being just below it at 4960.

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