S&P 500 Targets: Rally To 2750 Or Catastrophic Selloff?
Candy Matheson | Mar 24, 2020 04:35AM ET
Should the S&P 500 rally on Tuesday and beyond, the potential Fibonacci retracement targets taken from February's high to Monday's low are shown on the following monthly chart.
A drop and hold below the low could spark a catastrophic selloff to longer-term Fib retracement levels at 2030, or even 1700.
Note that there is a convergence zone of Fib levels and a trendline apex from 2650 to 2790, say 2750ish, making it an attractive eventual target for buyers in this extremely large 1200-point trading range.
P.S. This was tweeted right after I published this post...(so, more "green shoots" in the making?)...
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