SPX500 near term: watch 5670 for key support for a little bounce

27 Mar

Volatility continues thanks to Trump and Tariffs.
SPX500 just hit a key support zone around 5670.
Bulls need a good bounce here even if going lower.

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27 Mar

İşlem aktif

"Little Bounce" indeed, per the title of this idea

(yellow shaded area is from posting time)

About a 1% bounce, not bad

The "Ping" (exact ricochet) on fib zone made a confident entry.
Zero-DTE options gave decent profits, about 80% if closed early.

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Zoom in (m1) and add a fib to the bounce

Impulse off the green zone and its "Ripples"
The many "Pings" confirm the wave structure.

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So what next? one guess:

IF bulls can hold 5700 ish then maybe wave C to 5750

BUT tomorrow is Friday so more likely is:

Expecting a retest of the 5670 in best case.
Break of 5670 before weekend could get ugly.

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