$ES, $SPY, $SPX headed to 2500. Q2 Earnings Pending,
First, consider a fib retracement. We bounced back to the top fib retracement .236, and thats where we topped with a heavy head and shoulders patterned that crashed markets today. We might see a bounce and recovery soon, but I think this kicks of wave C of the correction wave, heading down now until the end of q2, where we start to see recovery happen in q3 and q4. This is a prediction and anything can happen. I expect Spy to hit 2500 or the .786 Retracement level.
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