The decline in SP500 is being tracked as a completed nested LDT (red), a completed flat (blue) or an incomplete impulse (gray), see Chart 1. At a larger degree, SP500 has been rejected by the top of its prior topping zone, testing its MA200. If MA200 fails, targets are the gap around 2050, the bottom of its prior topping zone, MA50 then the gap around 1950. See Chart 2.
