S&P 500 Bearish Count

5 thg 5, 2020

The S&P 500 just completed a wave B correction of a larger degree 4 move down. There was monthly demand at 2200 that started the reversal higher and weekly supply that has started reversing the market this week 2900. My first target is the weekly demand at 2480, then a retest of the lows if that is broken. In another chart I shared a bullish count for the S&P 500 that also reaches 2480 before going higher. High conviction for a significant move down in the coming weeks whether you are bullish or bearish.