Recap from 8/3/09 Post:

“After the current merry go around between 970-1005 is over (a potential spike on 8/6th (1015-1018)?) – the scenario is increasingly bearish for SPX – I think I can count close to 5 waves up since July Blow-off sans a minor ivth and vth.”

– I was off by 1 day on the Spike, but the price level attained by SPX was an exact 1018 in the high end of the top range specified

Preferred View

1. SPX topped on Friday, 8/7/09

2. The entire July 12th 2009 rally will be retraced or retested in the coming weeks/months

3. The exact pattern and timing of this pattern is available to Forum members

Here is the EWT count for SDS from last Friday, potentially showing a bottom on minuette wave level, awaiting confirmation.

Additional ESU9 wave count is here.

Alternate View

1. SPX made a short-term high on Friday, 8/7/09

2. One final wave up into 8/20/09 and (1020-25 zone remains)

“Chanakya″

(T&C Forums – Knowledge Contributor)