(16 JULY 2020)S&P 500 Bullish bias above 3200.00.

<p>Pivot</p>
<p>&nbsp;(invalidation): 3200.00 Our preference</p>
<p>Long positions above 3200.00 with targets at 3237.00 &amp; 3270.00 in extension.</p>
<p>Alternative scenario</p>
<p>Below 3200.00 look for further downside with 3175.00 &amp; 3127.00 as targets.</p>

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