All That Remains

So the market had its own ideas, and they went right past me. Except for the 1815.52 part. Once that broke, the flood gates opened.

I've long stated that when the market was ready to roll over, it would be plainly clear. Friday went a long way to establishing that. There is still the matter of 1767.99, but the great thing is that it shouldn't take too long to get the answer either way.

The market could be forming a larger degree 4th wave before a final 5th wave to a final high, but that's probably all that remains to the bullish argument.

I still am unimpressed by whatever happened at the "top" -- whatever pattern that was created there had to be the most camouflaged pattern ever. Perhaps I should be impressed.

For now, any bounce should stay below 1832.38 unless the market is trying to form a large degree triangle higher.

1785.42 is the 78.6% retracement level -- the market blew through the 61.8% on Friday. The all-important 1767.99 lurks below.

Meanwhile. Justin Bieber may have been the signal for the US decline. Could China be ready for a bounce?