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Here's another view of that 675-670 area in the SPX likely to throw up some support. Could be a spot to start the long anticipated wave 4 up before the final 5th down? :) SPX 90min

The minimum retracement for a ED is back to where it first started. So we should at least see SPX touch 692.30 before any significant rebound up again, if any. :)

The bulls are afraid, taking their profits from today's run up. Look at how the indices are falling the last few minutes. If you can search for and read Mup's definition of ALTs posted earlier in this thread, you will benefit immensely :)

Hmmm..... Buy the rumour..... Sell the news? :D

Any chance you would rule this out as a corrective pattern? :) SPX 30min

Seems a little like a double zigzag to me in the SPX... Strange though 'cos I rarely see this on a wave 4, unless of course, it is not a wave 4..... :) SPX 15min Edit: 1.618 of A @ 721.43

Mup, I don't understand.... My charts says 709 is around 78.6% on the ES 5min. Seems like our charts are different? Nice change to coloured candles by the way.... :) ES 5min

Well done Illum! It does seem like 690 will not hold in the SPX.... :) Edit: Sorry for the omission.... what I meant was SPX will not hold 690

Would be a nice ending to this drop if it is one.... :) ESH9 5min

Since most are thinking we're in the midst of 3 of 5 down, I thought I'll throw a curveball flat.... :) Count invalid if SPX breaks below ~693.15 :D SPX Daily

Fifth waves are quite unpredictable as it can extend. The first target to lookout for would be 5=1 at 713.17. (Note ES has already tested 711.25) Bears would have to watch this fifth carefully as many are expecting a huge bear rebound rally when this ends. :) SPX 120min

Not just you.... It feels like a bear trap to me... VIX is too calm! :)

I just don't feel comfortable when the the drop in SPX bounces off at ~755 (61.8%) retracement.... Will be watching from the sidelines until this clears up. Mup, What do you mean by taking a backseat at BGI? :) SPX 90 min

I'll have to give this count a little more priority now..... :)

Mu, I agree this feels like a huge bear trap.... Today's drop could be the 5th wave down so I'd be looking out for a wave 2 up :) Charts on strike.....

Let's toast to a HUGE gap up on Monday!!! :D Cheers! :)

62% retracement seems like a good entry point.... :)

Thanks Mu! :)

Hmmm...... :D

My charts says 768.63 :confused: