S&P 500 is currently in a minor correction phase, the up trend on daily chart is still intact. upon opening the index will rally to the level of 2810 which is exactly where where wave A has ended, as it is a regular flat correction pattern it will not break the 2810 level just test the level. From thereon, it will form a new impulse wave 3 which will bring the price down to the level of 2780 which is the most probable target for 26.03.2019, however this is just intraday target, it may continue further down on next trading day. right now the short term trend is bearish , as mentioned earlier this is a minor correction phase, the uptrend will resume soon after the completion of entire impulse wave
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Comment:
the pattern ABC formed was not a regular flat, it was a zig-zag, with wave c ending up higher due to gap up opening, however the down direction stands true. the target of 2780 will be achieved on 27.03.2019