S&P 500 recently corrected strongly down after nearly reaching the buy target 1900.00 that was set in our previous report for this index. The latest downward correction from this resistance level stopped at the precise level of the 50% Fibonacci Correction of the preceding sharp upward impulse from the start of February.
The subsequent minor upward impulse wave 1 broke above the resistance level 1850.00. The latest minor corrective wave 2 reversed up from 1850.00 (acting as support now). S&P 500 is expected to rise to the nearest buy target 1900.00.
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