I did some checks. Looks like SPX went 9 days down past few times and went up somewhat less 5-7 days.
SPX typically goes upto 61.8% fib retrace or slightly higher. Mid point now between 61.8 and 78.6 retrace will bring you to 1095 or so. That should be the upsdie for this run.
SPX also tries to close the "down" gaps. Next one is between 1091-1092.
Your 61.8% probability is right on track and could happen in 2-3 days max.
Snoot's target is right on track...about 10-20 points higher.
This is definitely a bear rally, based on the fact that NASDAQ is very weak and so is NDX. There is not much buying there.
BKX typically does a 78% retrace and is there already. Dow is next with 61.8% and is there.
DIA has a gap between 102.50 to 103. It may need to close that.
SPY has a gap at 108.71-109.2 looks like that need to be closed.
QQQQ has a gap at 44.3-45.12 that needs to be closed.
So the start of the down wave should be after these are met.
5 minute SPX charts say more up and have not turned down as yet.
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