S&P500 ~
Over the past few trading days price retraced the initial decline from the high in a three wave structure. Yesterday's sharp rally subdivided as five waves to qualify as wave-c of an a-b-c correction. The rally also stopped right at the Fib 61.8% target (c = 61.8 of a) shown on the chart. Today's sharp decline still needs to break below 2820 to confirm the larger primary count of the long term chart. Failing to do so would allow a retest of yesterday's rally to form a more complex double corrective pattern. Follow the trend and "Trade Safe"