Despite today's sell-off, we maintain our bullish outlook for the $S&P 500(.SPX)$ . We expect a minor pullback to the 4,857 area before considering a long entry.
I expect such a pullback to coincide with the release of US GDP. My target is 4,980 points, although I am avoiding the round 5,000 mark, as the markets occasionally hesitate on such important figures.[What][What][What]
The trading idea presented has an excellent risk/return ratio (RRR) of 5.7:1.
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