(17 JULY 2020)S&P 500 Bullish bias above 3197.00.

Pivot
 (invalidation): 3197.00
Our preference
Long positions above 3197.00 with targets at 3237.00 & 3270.00 in extension.
Alternative scenario
Below 3197.00 look for further downside with 3175.00 & 3127.00 as targets.
Comment
The RSI calls for a new upleg

(By Swissquote TRADING CENTRAL)