A Pattern Emerging?

Yesterday didn't get any less awkward for the S&P.  But there may be a pattern emerging.

I'll be going with this until or unless 1405.59 fails.  These are not accurate wave labels by the way.  My eyes glaze over when trying to discern the difference between wave degrees . . .  minute, intermediate, cycle, primary, etc.  . . . all I care about is finding an impulse wave and where it would cease to be an impulse.  I keep it as simple as possible.

I would not be at all be surprised if 1398.04, the spot labeled C 4 (isn't that an explosive?) gets retested and things get even more awkward or complex.  This is just one crudely interpreted option that may or may not develop.

Bernanke, Draghi, Jackson Hole, op-eds, QE, fiscal cliff . . . all I know is the most actively traded options are SPX puts, SPY puts, and VIX calls.  Rarely do I score big with options when I'm part of the crowd.  I score big when I stick my neck out and go against the herd.  The herd is looking down.

Unless the S&P tanks below 1354.65, I must postpone my personal feelings about this market and go with what I feel it is telling me.