I've got us in the midst of a wave 3 down that has not extended its wave 1 by the wanted 1.618x magnitude, for which the target was SPX 1334. I'd like to see that Monday, with one last burst of consistent selling. The McClellan has already put in a low, so if it can hold steady while SPX takes a dive, it will show a divergence that will help us mark an IT bottom here.
But any bounce from here should only target the 1361 area, before rolling over again into a 61 pt wave 5 that will take us to 1300 or so. That would set up a 100pt rally into EOY.