There is a cyclical low due now in early August, but it won't matter. The market absorbed all of the important selling. I see a rally to SPX 2500 area in two steps now. The cumulative volume started to really pick up last week despite the selling...
For the week, there is about 50% chance to revisit the lows around low SPX 2400s around the middle of the week. The chances to revisit the recent highs or higher is at over 70% odds.
For the Intermediate term, the first rally starts from this week to 2470 until July 21-23 time frame and then a pull back to early August and a rally until September to 2500 (with some room for error). It looks volatile, this is unlikely to be a one way trend.
The first target to 2450-2470 will be confirmed, if the prices close above 2434 this week...
Best of luck.
Edited by arbman, 02 July 2017 - 11:06 PM.