SP500 continues the correction. Based on the analysis, I assume that the first wave sequence shown in the figure is repeated. It can also be seen that the first wave sequence created a wider accumulation range (channel). This channel is sloping 6 degrees. The current accumulation range (channel) increases by 30 degrees. Determining these is important because we can identify the exact point of entry in the long direction. In the present case, this level is 3783usd. Up to this level, taking a short position in a 2-3 day trade can also make sense. The further decline may also be supported by the rising value of the VIX index.