SPX500 - At the .618 Fibonacci level. This is the danger zone

This is the place to watch for a possible renewal of the downward trend. One of the most common retracement levels in trading and/or anything in nature for that matter is .618. Thursday is a typical turn day so let's see what tomorrow brings. I'll take a new short if the move downward accelerates from here.

Trade active:

I'm comfortable taking a short here with the stop at 4600