The SPX 1 Month Hourly has met the target area yesterday with a high of 1230 (retracement 1236/1237) and is due for a pullback. Needless to say that a break of 1200 is a confirmation.
Thsi chart I showed early August as well and the extreme oversold levels. We have moved up already and obviously there is far more room to the upside just to reach a neutral area.
NYSE and NASDAQ SUMMATION are on a buy signal