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S&P 500 Counter Trend Likly to Terminate at the 50 % Retracement
SPX
, 60Long
SPX: S&P 500 Counter Trend Likly to Terminate at the 50 % Retracement

The S&P 500 is coming up again stiff resistance at the 2800-2850 area. It could terminate the counter trend rally to test March 23 low. I will attempt to flip the trade from long to short at that area.

SPX Counter Trend Likely Concluding Near the 2800 level soon
SPX
, 60Long
SPX: SPX Counter Trend Likely Concluding Near the 2800 level soon

SPX Counter Trend rally coming up to major resistance at the 2800 level. See the video on this at thechartpatterntrader.com

The Counter Trend will Likely tag the 50 % Retracement
SPX
, 60Long
SPX: The Counter Trend will Likely tag the 50 % Retracement

The counter trend on the S&P 500 is likely coming to a conclusion this week. stockcharts.com

SPX Counter Trend to Continue to the 50 % Fib Retracement
SPX
, 60Long
SPX: SPX Counter Trend to Continue to the 50 % Fib Retracement

The counter trend rally can continue to the next level of resistance at the 50 % retracement near 2800. As long as price holds above the clouds the counter trend will continue. It will likely complete this week.

SPX Counter trend to the 50 % Fib Retracement Near 2800
SPX
, 60Long
SPX: SPX Counter trend to the 50 % Fib Retracement Near 2800

Fib Retracement to the 50 % level

SPX Counter trend to the 50 % Fib Retracement Near 2800
SPX
, 60Long
SPX: SPX Counter trend to the 50 % Fib Retracement Near 2800

The counter trend will remain as long as prices hold above the cloud. The target is the 50 % fib retracement near the 2800 level.

Counter Trend on SPX as long as price holds above the cloud
SPX
, 60
SPX: Counter Trend on SPX as long as price holds above the cloud

As long as the cloud holds we have a bullish reversal of conditions counter trend. This rally will fail the 20 day MA or the 50 % fib retracement. New video about this at thechartpatterntrader.com A tradable bottom at the next low for a larger counter trend.

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