S&P 500 Emini Futures - Primary & Weekly Cycles
Reached the 2020 highs - Double Top??
it could push up into the August highs at 3420
Any validation of selling will be confirmed with a 5-day low breakout
1st Target September 50% (Previous Report)
S&P 500 followed the Secondary Cycles into the 3rd Quarter highs at 3542.
The 5-day low validation breakout occurred yesterday @ 3484
There could be a swing upwards from 3429 back towards the 50% level of the 5-day range, but my view is that it's moving down towards the September 50% level and Weekly lows at 3330
A Market Crash will see it back down to 2900 in this same Month, and then the 50% level in the 4th Quarter & Yearly 50% level will define if there's more selling .
However, will there be a TRUMP rally?
The September 50% level supports prices and then the market moves towards the 4th Quarter highs by December 3811+
