S&P 500 Primary & Weekly Cycles
Last Thursday's breakout of the Weekly lows @2054 has help set-up a break and extend pattern towards this week's lows @ 1921.
It has also seen the S&P 500 move back into the 2015 50% level after reaching the top @2133.
If we look at the 2015 50% @ 1958, this level it can form a support zone but ideally only after the market hits those weekly lows, as it will complete the break & extend pattern.
However, any buying above 1958 and the August break @ 2027 is seen as a major resistance zone that can last into the end of the year.
Note:- Bear patterns are appearing in other markets
