at least a clue and my opinion now has to go with the second analysis and this correction has been over with.

So many analysts get upset if they do not declare the exact top or bottom when it happens. That is not the real purpose of EW. The real purpose is to know what oppositions that pattern gives one and thereby knowing when to expect a critical turn.

I have formed the channel for this down move. The top is drawing off the top peaks( Starting at the 8-18 high for the top of the channel.)
and copied to the bottom of Aug 7-8.

The first -1-2- formation or hook is the largest wave pattern for this last move. Which also started on the same date.

The second pattern is from 8-22 for the second and smaller pattern labeling -1-2- pattern. Yesterday started the -2- wave and today should finish it up.

In the last post, I said heads up. Notice the wave patterns there. The fifth wave ended and the market produced an inverted -b- wave after that and got target price for turn. That little pattern(if I have it labeled right), was the final key to confirm the top is in or the pattern is not an -b- wave from 8-18 down.

So just prior to yesterdays low the market appears to have started an corrective wave pattern. It should unfold in an -abc- pattern.

There is only two targets here and either one could put an end to the corrective wave pattern.

Shown with blue horizontal lines. If it goes to the upper line. The lower line -abc- pattern is just an smaller -a- wave pattern of the larger -abc- pattern. Do not be fooled if this wave -b- of the larger pattern is not an flat pattern versus an sharp correction. that is it will stay above 1268.

So let the day begin.

Analysis done everyday sometimes more often at

www.sillywaves.blogspot.com

charleydan