FX:SPX500   S&P 500 index of US listed shares
145 0 5
This correction has impressive dynamics.

Since large corrections can last 3/4 weeks and SPX             has only been falling sharply for 4 days. it is dangerous.

There is an important support at 1960 and another one at 1900ish... as long as the area hold we may still have a new top.

Clearly SPX             got out of the logarithmic wedge .. a touch from outside in 2200 is still possible (would be ideal) but is not granted.

Worst case: 1700/1670 if a tsunami unfolds in the next 2 weeks and ISM is bad on the 1st of September with 2 days capitulation...

CRITICAL TRADING and not one where you much time to think..

Use options if you want to play the upside: the call oct15 2100 is very cheap (less than 10usd).
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out