123Tom's TA study group

[123tom]

S+P shoulder zone/danger zone

From 2675 to 2775 is a resistance shoulder zone for the technical math targets, wave patterns, to watch for roll over danger around 2700/2725/2750.
Critical support steps are developing around 2640-2650 area,when the pullback time comes. Rally target zone for possible recovery is back at the 2850-2875 peak area. Price needs to recover at least to 2800 to start looking positive. some work for S+P500 to do climbing steps in this rally to recover. Danger is to fail at the key MA around 2700-2740 area.and then Failure to hold the 2640 support zone.
The feeling for rally and market momentum needs to see climbing towards 2800 not falling down towards 2600.
battle zone 2600/2700/2800 here
You remember that old saying "Sell in May ..." the chart is crafting a critical month now for April, to make this a strong rally that recovers to 2775-2800 at least, and holds support above 2640 in the May pullback.