S&P500 is recovering with five waves into black wave 5 of a higher degree wave C) or 3). Resistance for wave C) or 3) can be near the 2600 area, from where a minimum three-wave drop can follow. A decisive breach below the lower channel line, connected from 4th of January would confirm a completed higher degree A)-B)-C) and a bearish continuation.
S&P500, 30Min
