S&P 500 Primary & Weekly Cycles
If we look at the Weekly Cycles, there's a break and extend patterns that could see price move down into the March and weekly lows @ 2743-2761 And as low as 2617
However, the 2020 50% level at 2976 might not allow that to happen.
Resistance the March 50% level and also the 5-day highs (Previous Report)
TEXT Book Patterns in the S&P 500...
Support at the 2020 50% level, counter-trend rally into the 5-day highs and then the next push down from the MARCH 50% level towards 2617
There's more weakness to come.
Random support 2617, which could see another counter-trend move back towards the 2020 50% level (Major Resistance) on any stimulus announcement.
However, we're in a 2 year BEAR market, that often sees extensions towards the 100% range at 2160
