SP500 Technical Analysis, Trading Strategy

SP500 in last few days was under pressure due to the European debt concerns, recent weak global economic data especially from the Euro zone and FOMC meeting. With FOMC meeting proving to be a non event and US elections nearing, it has found strong support at or around 1400 levels and have bounced from there. On H4 time frame, SP500 has made a Bullish Bat Pattern which could be negated if SP500 breaches 1397 on the lower side! The target in this case could be 1441-1447!

SP500 Bullish Bat Pattern

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