The S&P 500 is testing an important level of support that has led to a rally each of the last 3 times that it’s been tested:
With the S&P working on its 4th consecutive down day and below the lower 2-standard deviation Bollinger Band the odds favor a bounce off the 38.2% Fibonacci retracement of the entire December-May rally. Moreover, the each of the last 3 times the S&P came down to test the 2075 area it led to a rally over the subsequent days (April/May). Will this time be different?