[S+P500] update

The model from the backlink is below.




That model looks pretty close to today's actual.  Note that the model above uses an up-sloping line that starts at blue 3 for the HT lower rail.  That is a common "pencil whip" which does not reflect the true structure of the 4th wave HT.  Remember, that low into blue 3 is part of the 3rd wave not any part of the 4th.  The 1st sub wave of blue 4 is red a, then red b,c,d and finally the short stroke red e.  Short stroke e's are a sign of weakness.

In any case, blue 5 is now the same length as blue 1.  If the a-b-c retracement is already done by the kiss to the lower rail of the 4th wave HT from below then it spells significant weakness in the markets and suggests that my long awaited 500+ point DOWn day could arrive soon.