S&P 500 E-mini Futures 10th February 2016 part 2

S&P 500 Primary & Weekly Cycles
 
As noted in the previous report, the February 50% level would define the strength of the bounce in January. (dead cat)
 
We have another Break & Extend pattern playing out, with two possible patterns...
 
1. support around the 2016 lows for the next 6 weeks until March.
 
2. follows the break and extend pattern downward into March approx. 1740