The SP Harmonics chart 1 below shows the potential for a third correction down of equal length swings. The question mark just asks the question will this repeat?
The market late in the day traded to the downside making lows late in the day and found support at the low of the third line and equal length shown on SP Harmonic chart 2.
Traders can learn to use harmonics such as these in trading for several purposes; Trade entry, stop loss placement and profit targets.
You can read more about Harmonics in ‘Trade What You See - How to Profit from Pattern Recognition’, by Larry Pesavento and Leslie Jouflas, Wiley and Sons, 2007.

SP 500 Emini Harmonics 1

SP 500 Emini Harmonics Chart 2

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