Kumowizard

#SPX possible scenarios - not bullish until close above 2790(!)

FX:SPX500   S&P 500 Index
A) Market gets some kind of bid around monthly support of 2050-2200, we see a bear market rally to 2600-2700 breakdown point and later this year another leg down to 2008 highs at 1550+ points.

B) Things go really nasty, tech giant stocks get a real hit too, ETF run starts by private households and liquidity dries up totally: in this case and market simply collapses straight below 2000 points.

Anyway, for now there is no strategic bullish scenario in place until market closes strongly above 2790 (!)

Comments

very nice analysis and targets...
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Didn't technically already bounce 2151 ? See the tail on the monthly candle
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@2use, 2171 was the Futures low on emini... it will be tested in the cash market eventually....
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