elliott wave analysis of xjo & spi, page-13

WBC

The strong gap down suggests the advance from the June 2013 lows is complete.

I am initially looking for a small 5 wave decline off the high, staying under $33.70 is a good clue and suggests more downside.

I really dont want to see a strong reversal back above $33.70, with the SPI gaping up we probably see a bit of upside on this stock but if the overall market gets sold into, on Monday, then i suspect we can continue lower.