S&P 500 – 1250 area to contain recent sell off


Friday sell off is finally here. Market seld off but on weekly graph last week low is NOT lower than a week before so i look at this sell off as shallow correction of recent 10 week rally cycle. I expect correction to be contained down to 1250 area. if this area fail then 1200 is much bigger support. My scenario is that 1250 will hold and market will rally until April-May time frame testing 1430 area when bullish seasonals will fade away. Anyway this is a bit macro view not trendfollowing, but looking on larger time frame graphs i do not see any signs that the rally is over.

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