123Tom's TA study group

[123tom]

S+P made a nice jump today

just like I expected it to do.

lol.
big jump today,looking bullish

Now it starts to get interesting,reaching 2800.and pushing right thru it. looks like it wants that 2825 area now. really needs to climb to the 2825 (50% fib retrace from the 2940 top) and then lets watch the selling force there. I don't know if it would be traders/algos/investors looking to bail at the technical target (50% Fib retrace) but I am anticipating a full recovery from this plunge that dropped 230 points from peak to bottom. It might take the rest of the year or even into early 2019, but it will probably (be orchestrated/crafted) to look very neat and tidy on the technical chart. I think the Trump government wants to make the year end look nice and positive. The mid term election victory for Trump team republicans will boost the market some more in a few weeks, and we will see this rally show good follow thru. By December we ought to be back around 2875 target zone. Where would the most likely pause and pullback be on this picture as it climbs from 2710 to 2910 in this cycle. Maybe soon,around 2810-2825 area, a pullback to hold support around the 200ma (2770 area) would be my guess. and the 50 ma as a key target for the recovery wave.
Sometimes the math is too easy to see. especially in these market indexes.