S&P 500 June Bottom Was Significant

8 Jul 2022

The S&P 500 actually bottomed in June 2022 right at the 3rd Fibonacci extension from the Great Depression high. (The Fibonacci levels here were drawn from the all-time low in the 1880s to the high in 1929 right before the Great Depression).

Since the S&P 500 corrected down to an extremely important Fibonacci level and cleanly found support, this could be quite bullish, at minimum for the intermediate period.