Two counts here, one bullish and one bearish. I am leaning towards a deeper correction in the SP500 and so prefer the bullish red count for this inverse etf. The red count would suggest that we are now in a B wave correction before wave C starts with deeper declines in the SP500. A couple of things make me like the red count better.....the alternation of the 2 correction and the wave 5 being a 61.8 extension of waves 1-3. I have included a blue count that suggests the correction could be over already but I don't think the blue 4th wave correction of wave A was big enough hence me preferring the red count. That's confusing.....but anyway.....