Daily RSI and Stochastic are nearing the oversold zone.
A .618 retrace of the rally from 2855 to 3393 is at 3061.30
Minor wave "2" decline was 205.90 points x 1.618 = 333.10
SPX all-time high 3393.50 - 333.10 = 3060.40 almost an exact hit of the larger Fibonacci coordinate.
Two Fib points very close together represent powerful support.
SPX could reach this target zone on 02/26 or 02/27.
Don't let scary virus "news" keep you out of what could be a great buying opportunity.
Mark
A .618 retrace of the rally from 2855 to 3393 is at 3061.30
Minor wave "2" decline was 205.90 points x 1.618 = 333.10
SPX all-time high 3393.50 - 333.10 = 3060.40 almost an exact hit of the larger Fibonacci coordinate.
Two Fib points very close together represent powerful support.
SPX could reach this target zone on 02/26 or 02/27.
Don't let scary virus "news" keep you out of what could be a great buying opportunity.
Mark