SPX bounce about done? market at risk of downtrend continuation

Part of my ongoing analysis of the stock markets (see links below).

Stocks have bounced in an impressive way but now comes the real test.
The retrace thus far looks to be a classic Elliott Wave "ABC" correction.
If so, it should be close to ending, with a possible return to downtrend.

Positive Forces:
- Covid sperad may have peaked in NY, so we may have a model now.
- Stimulus Bill is to provide support for small and large businesses.
- Interest rates are back to zero and might go LOWER next quarter.

Negative Forces:
- Consequences to the Golobal Economy are just STARTING.
- Dividends will take a beating for at least the rest of 2020.
- Some large and many small companies will go bankrupt.

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Previous Analysis:
Jan 16 2019: Call for Top or Near Top
Jan 27 2019: Initial plot of Virus effect
Jan 29 2019: Virus effect a-b-c-plot
Feb 24 2019: Initial plot bigger Dip
Feb 25 2019: Dip update 1: Early Measures
Feb 26 2019: Dip update 2: Wave B targets
Feb 28 2019: Dip update 3: Friday Bounce
Mar 03 2019: Dip Update 4: Wave C warnig
Mar 11 2019: Dip update 5: Edge of Cliff
Mar 29 2019: Dip update 6: Last leg up?

Previous Milestones Mapped:
Oct 11 2018: Top Warning
Nov 18 2018: Correction Mapped
May 07 2019: Top Warning
Jun 03 2019: Bottom Signal <= Must See

I also plot Forex and Crypto, see my TV Profile Page.

코멘트:

NOTE: some of the numbers in chart are "blurry" due to a TV rendering Bug.
Here is a snap shot of the above plot, hopefully with more legible numbers:

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