SPX/SPY Looks To Test Resistance Near $3950

SPX/SPY looks to be in C Wave within a Wave 4 correction which is likely to send numbers back up towards 3950/395. The resistance there should be fresh and formidable. I expect that failure will send numbers back down to the lows of 3700/370 where temp support is likely to continue the ping pong action. A pass beyond the range of 3950 is highly unlikely at this point.

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returns to 3810 before the last leg up within this fractal wave.

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Drop wave has been postponed. SPX looks for 5000s before more downside potential.