Option Investor
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Today's pivot table:
[Image 1]

Friday afternoon I showed the SPX 60-min chart with the 3 most likely price patterns as I currently see them. The most bullish, labeled in dark green, is looking for only a minor pullback after a quick high on Monday, perhaps back to about 820-825, before pressing sharply higher. The other two scenarios are looking for a deeper pullback to the 760 area before bouncing and continuing lower (dark red) or continuing the larger rally again (light green).

SPX 60-min chart:
[Image 2]

For the more immediately bullish scenario, the 30-min chart shows an upside price projection to about 857 where the 5th wave would equal the 1st wave in the rally from Monday, March 30th followed by a pullback to about 825 and then continue higher. But if there's no immediate pop higher on Monday and it instead starts to sell off immediately then we'll have to watch for the possibility of the deeper pullback. Back below 810 would confirm the deeper pullback is in progress.

SPX 30-min chart:
[Image 3]

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