$S&P;500; UPDATE

$S&, P;500; have given a very sharp bounce from its LOWS of 27th,OCTOBER,
Technically we achieved all our objectives at those lows,
we did discussed this in our review here on 27th,OCTOBER the same day when it registered its LOW from which it produced a 6% bounce.
the rally wasn’t surprising to us,
we were expecting a rally,
but the magnitude and intensity of this rally was higher then our anticipation.
So for short term there are some BULLISH options to work with,
but we would prefer to have a conservative approach,
We are closely watching the LOW of 3rd,NOVEMBER,
which was a turn date here,
as long as INDEX can avoid a daily close below that days low we are not going to expect an immediate reversal.
On upside everyone is watching for 4,415-4,420 zone which along with a golden ratio also happens to be a strong Gann angle.
We suspect that,
Holding 4,320 INDEX can exceede this all important level of 4,420 marginally before terminating this rally.
TIME wise tomorrow 9th,NOVEMBER is a key CYCLE date,
after 9th,
13th,
14th,
24th and 27th,NOVEMBER are very strong CYCLE DATES.
For medium term test of 3,808 is almost certain.
but for short term we have to deal with complex rallies.
Let’s see,
next 6 to 8 trading sessions would be very important.