S&P 500 broad market index futures rose by
0.5% to 6,268 points on Monday, following a sharp 3.4% single-day correction
from the all-time high of 6,436 points set on Friday. The market now appears to
be in a holding pattern, with traders weighing the odds of either a quick
rebound or a deeper pullback. The
primary downside target remains in the 6,030–6,130 zone, which is a standard
5.0% correction from the top. However, such a move
increases the risk of further weakness toward the extreme bearish target of
5,670–5,770 points, a total decline of 11.0%.