BKX res points

The chart below is in log scale. To me it shows a clear 5 waves down from the top with an abc up in progress. It may not have much further to go on the upside based on fib retracement levels. Currently, it has retraced just short of 61.8% of the percentage loss it had from the top and is right up to the level of the wave 4 triangle apex. If this area doesn't hold, the blue lines at 85 and 93 are the 50% and 61.8% retracement levels on arithmetic scale. I think the most it could do is 96.5 area (76.4% retracement on log scale), if indeed we had 5 waves down from the top in 2007. As a side note, the .146 expansion in time hits around 9/24 +/- a couple trading days and occasionally will mark a turning point. Unfortunately, the bid/ask spreads on long-term (and short-term) BKX put options are extraordinarily large. If anyone has any individual stocks in this index that look like good short candidates and a bit tighter spreads on puts with a least 9 months time, please feel free to chime in.

Kimston