S&P 500 potentially forming a Failed Impulse Wave when it failed to breach 161% Golden Ratio.
Lol...the current level is currently at the Potential Reversal Zone of a pattern known as Bearish Failed Harmonic Impulse Wave...it is one of those patterns developed by Scott Carney. It could be invalidated if it would breakout of that level, however, the candlestick suggested an indecision, and if the PRZ gets respected, we may be seeing this plunged initially around 1953, worst 1728. The bearish divergence should not be discounted as well. My 2 cents.