1 min read

Major S&P level


The major retracement that will tell us if a bottom is in for now, or they go right back and test the lows and possibly more is 38.2% of the whole move down, this is 2641.00. Hitting and or trading above this level and getting right back below it should send it back to the lows again. With the wide ranges they are having it may trade 50 handles above it. Once above it you can use it as the new long term swing point and get short back below it and risk the day's high without waiting for the close. Above 2641.00 the next target will be 61.8% of the same move and this is 2930.00. Both of these scenarios should only take a few days to happen. Long term Swing point 2641.00, above it look for 2930.00 and below it they go for 2270.00.