The S&P500 index has been bullish since April after anchoring above the 2575 mark. There is no sign of slowing down, and the 8/2 session candle suggests continuation. SPX Daily Chart(click to enlarge)Bulls in Charge:- The overall trend remains bullish after the period of consolidation earlier in the year. - Price remains above the 200-day simple moving average (SMA) and the RSI has been able to climb back to 70.- The 8/2 session engulfing candle also suggests that bulls are ready for another swing towards the high on the year around 2875. - With the prevailing bullish trend intact, there is a strong possibility that the index will push into a new high. - For now, if we have any strong correction, we should first monitor the 2745-2750 area for support. Holding support here would maintain the bullish outlook.