Hello SpikeTraders,Markets have been in rally mode for the past couple of weeks with the S&P500 moving up to its daily 3-ATR channel. Markets tend to form a bottom when the outlook remains bleak. The continued worry of inflation and the Fed increasing rates that may push the economy into a recession, if we are not already in one continue to weigh on most investors/traders minds. The market had already priced in these events to some degree and it becomes a question whether these events unfold better or worse. The intermediate trends remain down while the short term trends have turned up. As the markets find upper resistance levels we will want to be very watchful of the support levels the market must hold for this rally to continue and eventually have a chance to change the intermediate trend from down to up. Let's look at the charts...