S&P 500 Primary Cycles
We can see the Monthly Charts on the left and the Weekly Charts on the right.
You will notice that the levels don't match exactly, that's because the Weekly close doesn't happen until the end of the week, which confirms the levels.
For example, Today we start the new month of April, but in the Weekly charts, April won't start until next week, therefore there can be a lag of 3-5 days before the next move.
We can see that the S&P 500 has stalled below the 2020 lows @ 2637.
S&P 500 Weekly & Daily Charts.
History suggests declines on average in the next two trading sessions after such a big move but then over subsequent six weeks equities offer cumulative returns of up to 6% on average. Previous Report
I would begin to look for a counter-trend rally upwards, from 2160 and as high as 2770 (50% of the range from highs) (9 days ago)
There are so many resistance levels in the Above charts, that I can't see the S&P 500 going higher than 2770 (Weekly highs 2774)
March lows 2743 April 50% level @ 2704
Even though I'm expecting lower lows in 2021, Markets could remain range bound between the 100% lows around 2160/2267 & 2743/70 for the next 6 months.
