E-Wave for the S&P 500 Index

[JLS]

Actually, yesterday's candle foretold today's result.

All major markets closed yesterday with large red bodies and very small shadows, so there was no sense of relief in the market during the day. Plus the previous decline over many days was sluggish, as it was much slower than the preceding incline. That slow decline doesn't correct the previous rise, therefore there must be more flushing at a higher rate of decline. Today's result helps fulfill that.

Constructive corrections, which everyone ultimately wants because it creates more stable markets, must happen faster than inclining markets as that creates a healthy dose of fear in the total market.

"Sometimes Elliott Wave can be quite a powerful predictive tool:"

Sometimes throwing darts works as well. A lasting end of this decline needs daily candles simultaneously with large lower shadows in all major indices.