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S&P 500 Weekly Daily Chart Analysis For August 16, 2021

TVC:SPX   S&P 500 Index
Technical Analysis and Outlook
The S&P 500 fell 2.5% on Monday, at one point in the week, and on Thursday provided us with Rinse and Repeated buying opportunity (Mean Sup $4,368-Mean Sup $4,385 zone). As specified on Weekly Daily Chart Analysis For August 2, 2021, the main target is Outer Index Rally $4,483 and newly created the Key Res $4,480. The very low downside scenario is revisiting the ''Rinse and Repeat'' buying zone. See the 'Weekly Market Review & Analysis For August 16, 2021" page at the usual site for the rest of the market story.