Would have loved to see the SPX close below 2007 to keep bears in definite control. Not that they aren't in control, but it puts or adds more weight to it. The indicators are all pretty much still on the downside move. Acceleration to the downside is ever more likely so speculation to the long side should be minimized if you are leaning towards a rally. A 3rd wave move tomorrow would have us accelerating down also, but what I would like to see is that we at least penetrate the 200 day ma without support. This would also complete the H&S pattern and we could look to a target of 1860 - 1850 range.
I am leaning towards the 5min count below as the EW count only because ST is down...