Volt, I was thinking a 5 wave pattern could be developing on the...

Volt, I was thinking a 5 wave pattern could be developing on the Sep SPI (similar to Sep SP). If so, and we go up from here, 100% extension of W1 at 4434 would meet the downtrend line on 21 (linear) or 23 (log) Jul, or it could break through to the higher targets or whatever.

Alternatively, the downtrend on the log XJO and the recent 91 day top look very strong so this might just turn out to be an ABC wave 2 (62% retracement) which suggests we're possibly now in wave 3 of Wave 3 down.

Having now posted this, I will no doubt be proven to be completely wrong once again and my belief that the only way for me to win at trading is not to trade will be reinforced lol.