(09 OCTOBER 2018)S&P 500:Bullish bias above 2871.00.

Pivot (invalidation): 2871.00

Our preference

Long positions above 2871.00 with targets at 2897.75 & 2904.00 in extension.

Alternative scenario

Below 2871.00 look for further downside with 2862.00 & 2854.00 as targets.

Comment

The RSI broke above a declining trend line.

(By Swissquote TRADING CENTRAL)