Market Prep: Ascending Pattern, Overhead Resistance & Trade Ideas

$C $NKE $TSLA

Hello everyone,

The SPX has been stuck in chop for the past week. If you look at the hourly or 4H chart, it resembles a barcode rather than a clean technical setup. The market has now broken above the trendline with multiple bullish confirmations. We’re slowly grinding higher and today successfully cleared prior supply zones, followed by a clean retest. We’re forming ascending patterns, and all that’s needed now is a higher high while holding key supports. The next objective is to test the overhead resistance. We want to see that level challenged before breaking any support below. A break of support first would signal market weakness and technical vulnerability. Next levels for SPX: