This chart shows where we are now. Bear market rally started from Mar 2009 from 666 is close to its end. Based on current pattern and Fibonacci retrace ratio, the target could be 1090 to 1121. 1121 is exactly 50% retrace the decline from 1576 to 666. But market can turn down any time before it reaches to 1121.NASDAQ already passed 50% and marches to 61.8% retracement.
I expect SPX will consolidate in next few sessions at 1040 to 1060 range, and then launch the final up leg to bear market rally peak.
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