A possible scenario for SP500

FX:SPX500   S&P 500 Index
The other possibility is that the current move is the first wave of another bull trend, but I doubt, considering the sharp sell-off a few weeks ago. We'll see. For the people who want to buy into the market, I would suggest to wait at least for the next oversold condition (check out daily MACD for instance).
Comment: More negative bar patterns at current point indicating possible downturn. If prediction happens, it will be a strong selloff, as this would be the 3rd wave down. Not a time to enter long.
Comment: Is this the 3rd wave?? If yes, fasten your seat belts.
Could be the start of 3rd wave. If so big Bear ahead!
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