S&P500 corrects every time to this level in last 17 years.S&P 500 IndexTVC:SPXTradingShotThe S&P500 index (SPX) has been trading within a Channel Up since the March 2009 U.S. Housing Crisis bottom. Within this pattern, the market has periodically peaked and then pulled-back to test at least the 1W MA200 (orange trend-line). The first line of Support has been the 1W MA100 (green trend-line), which covered the three more recent and shorter corrections of 2024, 2025 and now early 2026. However, the last time the index made contact with its 1W MA200 was on the October 2022 bottom. In addition, it is currently on the 2nd longest streak without having the 1M RSI touch the 16-year Buy Zone, which was 228 weeks (1596 days). In May 17 2027 we will again complete 228 weeks since the last RSI Buy Zone test. Technically, the market has a strong 'need' for another 1W MA200 test and even though it is currently around 5600, history has shown that sharp corrections do take place, like Feb-March 2020, Oct-Dec 2018, May-Oct 2011. Also, with the exception of 2015 (which hit the 0.236 Fib), the other three 1W MA200 corrections have all tested (at least) the 0.382 Fibonacci retracement level from the previous bottom. As a result, even though S&P500 could go a little higher to test the Top of the historic Channel Up, it appears very likely to pull-back and break below the 1W MA100, targeting at least the 0.236 Fib at 6500. By the end of the year/ beginning of next, this price level would also be close to the 1W MA200. If fundamentals (Fed hikes, geopolitics) get even worse, a 1W MA200 test by late Q1 2027 could take place near 6100 coinciding with a 1M RSI touch on its 16-year Buy Zone, but that's a less likely scenario. Needless to say, if a 1M RSI test on that Zone takes place before any of those Targets, then the S&P500 would turn into a multi-year buy opportunity for us regardless of the price. As a side-note, notice also how since 2008, the Time Cycles (Sine Waves) have fairly accurately caught the start of every of those major technical corrections. Based on the current Sine Wave, one should have started last year (August 2025), so technically such a Bearish Leg correction seems long overdue. --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇