Welcome To Wednesday

Looks like a rising wedge in the futures overnight in continuation of yesterday's action.  Price is stalling just beneath a 61.8% retracement level on a smaller time frame, while seeming to target a 38% retracement of the 6/19 high of 1363.46 on a slightly larger time frame.  This target is 1329.97, and may possibly include a test of 1337.82.

There are still two ways to view the move from these highs: the beginnings of a third wave down, or a B-wave with perhaps yet another sloppy low before a strong C-wave impulse toward 1370+.  I'm still going with the latter scenario until the market tells me otherwise.