18:25 BST SPX Update

Here's another way to look at the rally since 8 June - if your looking at it on the most bearish count I've shown. If its correct, we could soon see a large decline in the indices pretty soon. To remain valid, the 5th wave needs to stay below 1095.18, on the basis of the placementof the labels in the ed as shown on the chart. Also, it has to be a zig zag: