Today etched out an wave one and then gave a simple, inverted -b- wave, flat two pattern.

The market has dropped since then and will give one more -1-2- pattern. Maybe two more.

After the close the market dropped on re-open and if the gap holds open. Target is 1384 before retracement.

If the market goes lower before retracement. That would confirm how bearish the market is and makes the long term destination much lower.

charleydan
http://sillywaves.blogspot.com/