March Madness Comes Early as the S&P 500 Breaks Out on P&F Chart
60-minute P&F charts provide a nice medium-term perspective on broad market movements. This S&P 500 chart is based on 5-points per box and a 3-box reversal. Notice that it extends back to June and shows three big price swings. After the January surge, $SPX consolidated in February and broke out in March. The light blue line is the short-term bullish support line marking support around 1500.

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