Could S&P go down to 200?

13 oct. 2018

It appears that S&P500 has completed five waves. It could go down to 207, the 38% retracement level of the Elliott wave started in 2009. A 61.8% retracement could take S&P500 down to 154 (see weekly and daily charts below).

13 oct. 2018

Note

Weekly chart:



Daily chart:

14 oct. 2018

Note

Sorry, I meant SPY, not S&P500!
And, of course, this analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.

26 oct. 2018

Note

Wave (1) likely completed. SPY could go up in wave (2) now.