SPT 2010 possibility

It certainly looks like 377 & 144 tr days hit a HIGH today
The expected pivot became a high, maybe- lets explore
to see WHATS NEXT.

Will Spt sell off ?

Arms data is on the verge of issuing a sell signal
and today's mkt data should solidify that sell

X wave rebound with lots of HYPE- typical of that type of wave

MY SIMPLE ELLIOTT count - from April26th
1220-1010= 210pts lost on wave {A}

Wave{B} high got to 1130,
and wv {a} LOW of {C} back to 1040
a loss of 90 pts

90 x 78% = 70 + 1040 = 1110 potential
we got to 1105 at 10am, and the ISM data offered a wet blanket

Using the principal of wave equality, CAN we really expect
{C} wave to give back another 210 pts from today's high which would
take the spx to the 900 level

IF this is REALLY going to HAPPEN, IMO, the BEAR must show his fangs
starting Monday.
MY timing model calls for
Spt9th low = wv i of {C}
spt20 high = wv ii of {C}
Spt24 low = wv iii of {C}
Spt30high =wv iv of {C} & turn lower to Oct 4th = wv v of {C}

What level next week would signal the above is really happening?

Using the previous wave, we might get some answers to that question

April26 to May7th on close lost 110 pts -- really close to 55% of 210 total to come
1220 - 1110 = 110 pts = 52.4% actual

If we DO GET such a loss BY the 9th, it would take the spx to the 1000 level
and set the stage for a possible 34% rebound of 38pts to 1040,
which would be typical resistance of wave ii as listed above.
You can do the math for the rest of the wave as above

Jay
this takes lots of -------
IN THE FACE OF HAVING misread the END of August