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.
On the August 2 weekly analysis, the outer index rally target was pegged at 4465. Is the 4483 target just a revision of the original 4465 target? If so, why was the 4465 target revised upward instead of concluding that the rally to the 4465 target was completed on Monday of the past week?