FX:SPX500 S&P 500 index of US listed shares
On the chart, I draw the established and the emerging that I perceive, which I have labelled "New Trend." A downswing is under way, which I predict as following the slope of the last downswing, complete with Ripples and, no doubt, plunges. Should this downswing, as I expect, break through the Established Trend's Support Line, this does not necessarily mean that the Trend Reversal has set in, and the graph may find resistance at the New Trend's Support Line. However, a Trend Reversal, complete with a deep plunge, is still on the cards.