SPDR S&P 500 (SPY)

[RCKS]

Two
My wave read here, is the reaction wave up off the low made on the 17th is done and we have started a C wave down or wave 3. Either way we should test 900 before we break today's high.
The A wave down or 1, took 4+ trading days, The B up or 2 up took approx. 2 trading days.
The C wave could conclude by Wed. but if we in a wave 3 down, We would be completing only the 1 of 3 by say wed.

The real test for this count will be that bounce from 880-900 area. If we are in a 3 down we shouldn't retrace more then 50% of the B wave high.