SPX crucial support 3636Weekly closing price is the price available for the world for two days.
It is the maximum resting time of a stock or index price, than daily or even monthly.
All investors ,traders, institutions, owners are scratching their heads for next action
So we have some logics;
Every thing is out, inflation, rate Hike, corona lock down, supply chain lock , BUT remember market is already factored in.
public is under fear of recession, market collapse ,thanks to Media for over shouting .
what they will do? they wait for Monday to sell their stocks
what smart BULLS do? they will always act fast before the public realizes
they BUY at low level (market oversold to the level of 2015 )
As per EW counts, 'Y' wave will end at 3636 (X*1.618)
as long as this level is supported by smart BULLS, we have another new Rally
