S+P 500, strike 2.5

In this post I noted the first S+P 500 break down and I called it strike 2.  Since then, the chart bounced once more but only high enough to back test the recently broken support line from below.  That test failed at the blue circle and has since plunged back down in 5 well formed wave to hit the blue line again. 

This time it will not hold for long IMO.  This time it will break down and leave us with a nice head and shoulders break down.  The blue line is the so called neckline.  The next move down should take it to perhaps 1730 or so and there should be significant gaps down in the pattern.

If there was ever high downside, low upside probability chart, this would be it.  If the blue line breaks down as expected, that's going to feel like a karate chop to the head of the S+P 500.