Update

This is CFD chart of SP500. The price bounced from support (the blue line) made a lower high and broke below it. The bearish H&S does not look so bearish... instead continuing lower the price is now above the neckline and overlapping with the previous waves. It looks like corrective move two impulses lower with the same size.

The pullback could be finished with this A-B-C zig-zag and at day 40 with stealth 40 day cycle low, or it could last another 2-3 days for a double zigzag wave 4. I do not rely on waves in the last weeks the move is too choppy watch support/resistance levels.

Around 2010 there is support, 38,2% Fibo retracement level, MA200 and MA50 on the daily chart... for a swing trade it will be much better to see the price at this levels - more clear structure and clear stop level. Let's hope that we will see the price around there:)