S+P 500 hits first rebound target so where to next?

Yesterday, as noted the S+P 500 did make to the first rebound objective, at 5,750. In fact, it eventually pushed past that level and reached a new rebound high, at 5,775.14. The index later closed at 5,767.57, with a gain of 100 points on the day. There is no doubting the gain was pretty impressive and of course delivered by the more than 2% rise in the Nasdaq 100. However, it seemed a broader move, because the Dow Jones was not that far behind it. So, where is the next, potential corrective target for the index from here? Well, 5,750 was 38.2% of the fall from 6,147 to 5,504. A 50% rebound from that fall would imply a higher correction to 5,825. So, is that a realistic prospect ahead of the monthly close? Well, as things stand right now, it would seem like it might be. However that is no given and much will depend on the news dynamics in the coming days. Some analysts believe the whole sell-off has now run its course, but significant doubts remain and we have to remember what led the index lower in the first place and none of that has yet fundamentally changed. The S+P 500 is currently priced to reopen around 5,757