S&P

S&P closed down. Wave ii was 38.2% retracement and wave iv is 61.8% an alternation, but usually it is wave ii that does 61.8% which is rare. Now the only question is whether wave v down is going to be just a break of the low of 2593 or an exponential decline? Wave iii was extended and in that scenario exponential declines are rare, but in 2008 Jan Nifty did see such a pattern. All I can think right now is that wave v down forms right away and we will enjoy the size.