S&P500 Analysis (Sun 3 May)

OANDA:SPX500USD   S&P 500 Index
The stock index recently completed the five wave sequence I have been talking about for weeks. We even got a nice ending diagonal to end the fifth wave. This is also likely to be the retest of the ascending channel that we broke out of on 21 April. We are looking for possible retraces and a retrace to the fourth wave of the ending diagonal isn't out of question. If we get the drop we could see price reach levels like $2730.