S and p 500 has gone parabolic long term. Retraces to the base of each of the major parabolic base comes in at 2750, 2100, 1500, and 750. Long overdue in a depressionary collapse scenario that will likely play out.
The S&P 500 (SPX) is now starting to bounce.
The sellers are exhausted according to the indicators and we are seeing a strong jump taking place today.
We have more details on the chart above.
We believe that prices can bounce before producing one final strong drop, but it all depends on how these support and resistance levels are handled, we remain open to all...
Previously I was considering only a bullish count in which the Wave 4 was completed but here I have analyzed an alternate count in which I have discussed the downside possibility.
Which count will play out will soon become clear but if the downside plays out then we can see targets around the 1800 mark.
To be more precise the expected targets are -
Target 1 :...
