S&P 500 Index
Updated

Short term bounce

105
The S&P bounced off the weekly 200 SMA which should give momentum for a short term uptrend. The weekly RSI is so washed out as well. It looks like it is on wave 4 of the A wave right now. Placing a FIB retracement on the swing high and low shows very high resistance on the .5 FIB which is 2643. I think that's the highest probability of where to sell and place shorts at. The likely bottom of wave A is around 2200. The FIB projection is there along with an area of support. After that, there should be a good long opportunity to catch the B wave.
Note
snapshot

Still on the way to 2600

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