S&P Primary & Weekly Cycles.
As I mentioned a numbers of Weeks ago, the S&P would swing up from the 100% lows in the Primary cycles and move towards the 50% level of the range between the 2020 highs and 2020 lows.
We saw the S&P hit and reach the Weekly highs and also retest the March low breakout @2743, which is what often happens in Bear markets - retest the breakout before it continues lower.
As you know I'm extremely bearish after this retracement, but it won't surprise me if it takes a number of weeks to unwind.
That bearish sentiment can easily change, once governments start to re-open the economy, but technically it's down into 2021.
