The S&P bottomed on March 6 at 667. March 6 is 90 degrees, or “squares” the price of 667. 803 vibrates directly off March 6 (it's also a conjunct March 6).
In other words, the date of the significant low resonates on the price of 803 S&P. That time and price square out is a place to look for the first meaningful pullback.
As long as the S&P remains above 780, there remains a chance for a move back to 800 and the weekly close above the 50-dma. The bulls would like to score.
The advance off the November 20 low was 203 points over 6 weeks. 203 points on top of the 667 low from March 6th gives 870 which is near the monthly swing high of 875. The primary target of 720 degrees up from low is 890. 540 degrees up from the March 6th low sets up as 830 S&P. That's the current focus.
If the index recaptures 830 this month with momentum, there's a chance the Monthly Swing Chart may turn up before the end of March. But it appears the greater likelihood will be that the Monthly Swing Chart turns up on trade above whatever the March high is in the first days of April. The strength of lack thereof at that point will be important to observe.
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