However, it is interesting which level will be reached and when we should be on alert. The first obvious S&P 500 target is 2,100 mark – Fibonacci progressive level of 1.618, deferred from the first removal of price after the crisis.
We can expect correction of this frantic movement. It is likely that the last upsurge in the cycle will follow and end at the level of 2,300 - Fibonacci progressive level 2.0 on the midline of parallel . The movement may last about 14-16 months and then the may stop. There is a chance that the index will come to the upper boundary of 2,400-2,500 channel, but in the current situation, this forecast seems overly optimistic.