All the major stock indexes are synchronized on down side movement. The wave count so far is that we are in minuette wave (iv), which may carry SPX back to 1040 resistance level (previous support). Once wave (iv) ends, wave (v) down should draw prices to lower low around 990 to 1000 in SPX.
However, I have some doubts about the end point of wave (iii). Wave (iii) shall be 1.618 of wave (i) based on normal wave structure ratio:
Wave (iii) = 1069.62 (or 1063.34) - 1.618 * (1080.15 - 1041.17)
= ~1000 to ~1005
So we may have more down side room on Monday to finish wave (iii), but that is not required.
How to trade this down move?
Again, "wave (iv) can not overlap with wave (i)"! You can short the market as wave (iv) carries it up and set stop loss a little bit above wave (i) low 1041.17.
Good luck!
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