S&P500: Pullback before a probable 200 points drop?

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This might be part of news play or is it?

So, there's 2 scenarios that this can play out.

1. Market is going to rally to 4450 area, and then drop the 200 points

*White 12345 = Daily impulse.
Yellow 12345 + Green ABC = 4H complete cycle. Supply & Demand Zones as reversal areas.

OR

2) Market continues to rally up past 4500, signaling trend continuation

**Red ABC = Daily retracement
Blue 12345 = Wave 1 on Daily/ Impulse wave on 4H

Crucial juncture is how the market reacts when it reaches 4450.

If it goes side ways, then scenario 2 will most likely play out.

If there's a selloff, then scenario 1.

As for the rest of today, let's continue to buy :)

Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.

If you have any symbols that you'd like me to analyze, feel free to drop me a comment.

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ملاحظة

The bulls are strong here!

Looks like scenario 2 is playing out!

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ملاحظة

We should be seeing strong buying coming from the Europeans and Americans today.

If so, then we will see a completion of Wave 1 on the Daily.