The entry is at just below the 0.886 retracement of the previous down leg.
The stop is just above 1.113 retracement.
If the stop was taken you can consider to enter at 1.272 or 1.414 retracement too.
Good luck, and happy trading.
Target is 50% retracement of the move down from 2.1XXX
Stop is below 113% retracement of the recent advance to 1.92XXX.
If stop loss taken you can still consider entering at 1.272 or 1.414.
Please due your due diligence,
The pair is in a down trend.
An ABC correction could well finish at the top of falling trend-line at about 129.80
A 0.786 fib extension of previous leg will also finish at 129.85.
Please share you thought, possibly with a chart.
Since the release of previous idea, linked below, on 11 April 2015, S&P500 has not been able to break across and close above the higher trend line, where at a time I put a question mark, and now seems to be heading to complete its natural cycle.
I expect a few weeks of consolidation, IF the index manages to close ...