Measuring the move

This chart shows the 38% retracement of the entire last major set of waves up at 3059, but the 200 EMA sits at 3081, and historically the 200 EMA is the heavyweight EMA, hard to break through.
The reader should also take note that the Bollinger Bands are in roughly the same range 3040.. These are all likely candidates for the bounce. a 38% retracement is Bullish, the next lower fib number is
50% or 3000 or where I have a red support line this is less likely, a long way to fall in this Manipulated fed protected market.