I would certainly expect more of a bounce here before this wave 3 continues, but this thing really looks like it is in trouble.

so now the 1.27. They like to shoot past it before it goes the other way. Who would be thinking about calls in here? C'mon people talk to me.

what I should add on if this is a wave 3 it has further to go.

SPX@660-50 is my area of interest, M.
Lookup the monthly/weekly time frames, that will put the current downmove in perspective and give u some context. Then check out the 1.128 ext retrace of the now defunct '03-'07 bull trend.
See the huge DT-ABCD formation ?
I've been watching this like a hungry vulture for a long long time now.Not calling any bottom but it sure is one cool magnet area.Could be worth some shots there if things align favorably.In the meantime I am just managing my shorts as planned.This market is awesome.

T

just some thoughts,I suspect that this has one more 'medium' bounce and roll move in the works here, to set up a climax maybe.
I could picture a w4-w5 roll with the last daily 4PC pattern(the last one discussed in the forum's hot topic) being wave2.
T

and the 1.618 projection for a wave 3 falls in right at 649

yes indeed.
I too had that 1.618 swing projection to add to my grouping,and with other fibs and some not too obvious lines i've got coming nearby the area as well.
T

here we go...666 is close enough for early triggers..now the price action has to be compelling enough to trade it.
T

Seems like a lot of people are watching 666 outside this forum, and that makes me worry a bit...

Very cool. Despite so many calling it, it sure did play out nicely.

Wow did it play out nicely. What a way to finish up a trading week. Wow.

No fibs drawn, just lines.There are some keyspots right above here.
Jim mentions the 883. I see the 873-75 as the next key spot and then a bit higher around the 890. This is also timefactor dependend.
I boldened my key lines. If someone has other key lines that I don't have please post!!!