[Update] SP500 points to ponder – 2011 and 2015 selloffs/bounce

Price revisited the down channel midline 1900-1920 area finishing the week just above. If the analog continues price would need to continue its bounce up to the 2000-2020 zone. Note: this would be between the 50 and 62 fibonacci levels measured from the May high to the selloff low.

If price makes the pivot higher I will be closely watching for RSI to break and hold above its current down trendline.

market-observer.rhcl...selloffs-and-bounce/