That area would be the near term target. It would fill the gap as well as meet the downtrend line. Also, stops are probably in that area. After that, I expect one more move down although if we break above the downtrend line you can see a harder rally. Under 360 and this idea is invalid. Good luck!
Note
363 area should hold on any pullbacks Note
363 has held so far. Note
SPY is stretched and showing 3 waves only. If we stall at 370 we may have one more low coming this week. The slow move up is concerning to me FWIW. I took some profits in case. Note
watching for this Note
target reached, adding shorts Note
watching aapl for weakness - may be leading the market. Note
AAPL now broke horizontal support and has retested it, which is an objective short area, if correct we should see selling pick up soon. Note
so far this is looking good for bears - so far Note
they are shaking out shorts I believe. AAPL still looks like an ABC here after a messy impulse. Above 147 would be problematic for bears, otherwise this could be 1-2 complete Note
SPX took out stops at the very end of day. Makes sense if they want to reverse it overnight/tomorrow. We'll see. 
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