$SPX: Two for the Bears and One for the Bulls

This is essentially the same chart posted over the weekend in which I said we could see gains of 40 to 50 points based upon OPEX week.

The bullish case is the descending wedge although it does offer resistance

The bearish case is completion of a small, inverted H&S at the bottom as the market turned up. Maybe 2 pts left

Also, notice the almost perfect ABC move up in which A equals B to C.......both about 30 pts. Also bearish

Failure will be a process, not an event