S&P500: Rebound S&P 500 futures managed to stage a modest rebound in yesterday’s session and are now showing renewed upward momentum. In our primary scenario, we expect magenta wave (5) to continue climbing and to ultimately mark a final high that completes the larger blue wave (III). Afterward, we anticipate a corrective phase via magenta wave (A), which should pull the index toward support at 6,371 points. However, if prices drop directly below the 6,371 points support, our alternative scenario will come into play. In that case, the alternative wave alt.(4) would likely extend further downward, finding its low within the magenta alternative Target Zone between 6,055 and 5,822 points.
