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[blustar]

Once a market has broken a down trend line, it usually snaps back. The last e-wave count from the recent bottom has been a-b-c x a-b-c. It is expected that we take out the last c of the last a-b-c sequence and on the SPX that is the 1654-55 zone. The snap back line at that zone occurs Friday, which is TD 9 for the 8 TD cycle low and 34 TD's for the 7 week cycle low. The pullback should be labeled Wave B of an ABC type rally with C yet to come. The larger 32 TD cycle top is due next Thursday on the full moon with the 1696-97 zone expected to be tested. Yesterday's topping action revealed an irregular formation suggesting higher prices ahead once the pull back is complete. 1536 SPX still beckons for me based on the normal e-wave patterns and may not occur until sometime in October, even as late as mid month.