broughro
Short

Detail of Ending Diagonal where (5) was an extension

AMEX:SPY   SPDR S&P 500 ETF
Ending diagonal resolving quickly to initiate onset of (C) bear market to ~600 SPX             ...
Comment: First major wave 1 down complete and major 3 wave correction wave 2 ending now. 3 down should be violent and progress 1.618 times wave 1...watch out below!!
Ending diagonals reverse quickly to their origin so expect steep drop to at least the Oct 14 low before the first significant relief rally...hold onto your hats!
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(5) will be .618 of (3) short of the end of (3) so expect (5) to extend to be equal to (3) and end around 175 +/- 3. Then expect a large retracement to 203 before resuming bear march lower...
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