So, the SPX continued to decline and hit 1075 in the morning where it seemed to bottom out. A very nice impulse from 1131 was formed so I thought this could be a completed wave (i).
Just a few hours later the market proved me wrong though when it sold off below 1075.
The problem now is how to count the move from 1131? So far, I can count seven waves, i. e. corrective. Thus, it's possible that wave [b]/[ii] finished today.
But it's also very possible that the motive wave started on Monday is still underway. The possibilities are that we've seen either a series of 1-2's or that we'll get an extended fifth wave.
