Top of the impulse channel is 2135 SPX (new ATHs) by close tomorrow. All they need to do is gap us 5-10 handles overnight over the 50DMA and the bears will take us the rest of the way.
This would of course set up the initial drop back to 1820 SPX and a fall crash according to the 1987 panic model I wrote about on ZeroHedge. The sequence of "events" might be a little different, though, as I really really think Yellen will raise short-term rates at the September meeting.
|SPX Fall 2015, 1987 crash model|
Yes, this will be the greatest market crash in modern economic history. And you are invited!