SPX topping again? S&P500 retrace done or soon will be.

Stock Markets in general look to have topped for now.
Observing the S&P500 because it has been the most bullish.
After an impressive bounce, it is coming due for a pullback.

Due to Gov shut down and trade wars, we should see a leg down.
This index has already touched and failed at two resistance zones.
The Green zones represent support areas, where bonces will occur.

There will also be "Dip Buyers" that will become "Rip Sellers" soon.
We may see on more small leg UP for a 'Blow off Top" to this wave.
If we do get another leg up, I expect 2700 to be strong resistance.

Bulls beware the "Wide Open Space" between 2520 and 2440.
If the zone at 2520 fails, then it will be a quick drop to 2440.
Bears might also target that space for a quick high gain short.

NOTES:
Drag DOWN on price scale to see more zones above and below.
Drag UP on the price scale to remove overlaps in numbers.
Drag RIGHT on Time scale for history and Fib originations.

הערה:

First leg is under way

Close up shows confirmation of each zone

but only a brief pause around first support.

הערה:

Quick Fib on leg down from US open

Looks like 2618 next stop

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הערה:

I am seeing two Impulses and their Ripples

Green 4.236 and blue 3.618 Confluence looks likely for target and a bounce . so more like 2600 than 2618

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הערה:

The above two fibs placed onto the original chart

puts us Exactly into the support zone created by longer tf fibs on original chart. May not happen today, but under 2600 looks highly likely within the next day

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הערה:

zoomed way in, we are right at a critical line going into NY open

הערה:

SPX struggling against a green ceiling around 2640

Looking at the bounce

I screwed up and did not account for the Green 3.618 which is on the live chart above, but not extended.
Here is a nice look at that Green fib series isolated

sure looks to be the current rhythm.

הערה:

Market looked to have double topped at the resistance zone, but then broke out

Now it is up against a pretty strong resistance again. This week will be the decisive window to either break above or to start dropping ...