S&P500 short-term: Further upside?

 Last post, called for a near-term target of 1185 based on a not-so-goodlookin Inverse Head & Shoulders. Very choppy action since. Price hit a high of 1181, before reversing in dramatic fashion. However, i believe there could be further upside here, after a corrective period.
 

 Trendline break?

A break in the green trendline was noted at the close. This could mean corrective action ahead between 1180-1154 range. However, do note that this requires a follow up down move to confirm, as yesterday's fall was only a 3-waver. We're stll in the uptrend channel bound by the red lines. So, not the place to go aggressively short.

Further Upside possible

If prices turn up impulsively instead, this could have been a i-ii action of the 5 up, and there could be further upside towards 1220. Asian markets, turned up on supports, indicating further upside. Exactly as i indicated yesterday in this Shanghai update! Once again, Hang Seng 21900 & Shanghai 3150 are levels to watch.

All the best folks & have a nice weekend ahead!