SPX500 eyes on 5668: Key Resistance before Trump Tariff news

2 Nis

SPX500 might be in "sell the rumor, buy the news" mode.
But the bounce has just hit a major fib (of its Covid wave).
If the news is bearish, this would be a perfect top to drop.

===================================================

3 Nis

İşlem aktif

PLUNK

Tariffs were not good news for the market.

Fell into our green Support zone

Which is made of a Covid Fib and a Genesis fib.

.

Adding a fib to the drop:

That looks like a decent "impulse" Ifib 0,1).
Got a few confirmations on the extensions.

.

IF that proves to have been a true Impulse,
then we look to the 4.236 as first guess target

Puts us at 5070, with major support at 5100 above it.
But first, lets see what a dead-cat bounce does if at all.

===================================================

.

7 Nis

İşlem kapandı: hedefe ulaştı

PING

Red 4.236 at $5070.59 Hit

And actually attempted a bit of a bounce on the m1

Bounced thru a Covid fib (dashed) and a Genesis.
If not Friday close, it might have held as bottom.

Then re-Ping'd from below after hours.


.

So where next? Probably looking lower:

Red 4.854 at $4976.89 is next possible Wave Ender.
Two Major Supports below, strongest around 4900.
Just above is some serious Resistance around 5100.

.

I will post a new plot after US opens on Monday.

================================================================

.