This is a long term look at the S&P 500’s 1 year chart and the breakout past 786 of the entire zigzag and C wave.
Best case scenario: The 786 breakout past 2030 is a very key level and we clearly broke it yesterday after a short zigzag…the big thing is that the bigger zigzag as detailed in the chart has reversed past bigger 786 resistance and we could easily see the top of the B at 2118 break by end of or middle of April. Pretty textbook zigzag and 786 breakout move which is very bullish.
Worst case scenario: We have 5 waves up and correct to the 1960 range after the big run up if this rally doesn’t sustain until the end of the day at the highs.
Where I’m leaning: