A strong buying opportunity for the S&P 500 is on the horizon

The US S&P 500 index has broken its downtrend.

This corrective downtrend, as shown on the chart, 

followed a period of sideways consolidation, 

which propelled the index back up strongly,

creating new, strong buying demand zones.

This is evident on the hourly timeframe at the 6733.9 level.

Expected targets:

If the index tests the identified new buying demand zones,

located at the 6733.9 level as shown on the chart,

then a rise to targets of 6758 and 6785 is expected.

This analysis will be invalidated by a complete bearish candlestick

 breaking and closing below the demand zones.