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SPDR S&P 500 ETF TRUST
Short

Could S&P go down to 200?

By ndau
Updated
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).
Note
Weekly chart:
snapshot


Daily chart:
snapshot
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.
Note
Wave (1) likely completed. SPY could go up in wave (2) now.
Chart PatternsdowjonesS&P 500 (SPX500)Trend AnalysisUSustech100Wave Analysis
ndau

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