I thought through several possibilities and felt that we could be in the midst of wave (4). If we are, then I am expecting a bounce into about 1306 next week.
a = 1277.26 - 1245.46 = 31.80
projected b = 1.382 x a = 43.95
actual b = 1277.26 - 1231.18 = 46.08
Also, we have not hit the...