FX:SPX500 S&P 500 index of US listed shares
The Downswing, I believe, will happen soon. Perhaps a downtrend will commence, but that depends on the market feeling that interest rates are about to rise. Resistance Line B lost its strong upslope on 3 Jul 2014 and is replaced by Resistance Line C, indicating that the top of the parabola has been reached or is soon to be reached. Attempts to swing down were met with resistance at Line D. Lines C and D are heading towards collision, but the downslope may not wait for the collision to happen. Line F indicates my projection of the slope of the downslope, following previous downslope Line E. At some point, when the graph breaks through Line D, the downslope will be very sharp.