S&P 500 analysisposted by genuinelyFX at 08/23/2015 - 13:01 GMT
..and down it went. Looking for a 12.5% discount at 1850 area (coupled with some support lines) or below at 1700 area, where a 38.2% retracement of what seems a wave 3 and the bigger channels support. Wave 1 and 3 was a 100% increase from their beginning, the tops share a similar form(see bellow) and the same period around July-August. Also, wave 3 is roughly 1.618 the length of wave 1 in time. A similar correction would retrace us towards 1850, a 12.5% correction from the top.
This is the August 2011 analogy.
And here is the pre-crash of 2007-08