SPX Targets: Rally To 2750 Or Catastrophic Selloff?

Should the SPX 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?)...

All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are provided for your ...

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