The number of possibilities on the short-term counts are also growing, with multiple ways of labeling this sell-off, I did post the one count I give the best odds for, although those odds are not overwhelmingly high. This one would give a retrace back up to the 1080 level to put another 2nd wave in, but would require the SPX to make a minor higher high, and the way things are going the market is having troubling trying to do that, as it continues to print lower highs, and lows.
Breadth closed at 1.40:1, decliners, low enough to suggest that downside momentum has waned, and a 2nd wave retrace is in the works. Since it is Friday, and most people have already bailed-out for the day, I will keep this post quick and simple, and spend my time working on a larger post for the week-end, instead of adding to this post tonight.
9:27, The SPX is close to testing its long-term trendline of support, the Russell already failed, and broke below its trendline, as well as the DAX and BKX. A break here opens another door for the SPX to test its low down at 1010!!!
9:20, As long as the SPX continues to make lower highs, and lows the series of 1-2's down remains a viable count.
8:04, The SPX is buried in a series of bearish short-term Fib fans, with no bullish ones in sight!!!