Since May 6th the market has demonstrated that the crash on that day was more than just a "fat finger". Like I said before, May 6th was an omen of things to come. We will see a few more of these crash like days over the next few years. No matter what governments do, inevitable price will continue where it wants to go. The market should trade in a choppy fashion over the next 2 to 4 weeks. We are in the midst of a wave 4 correction on the daily. My feeling is that this correction maybe more complex than most believe. Due to the fact that the wave 2 correction on the daily chart was very simple, thus wave 4 will trade in a frustrating pattern. It is possible that we trade one more time to the 1160 to 1170 area of the s&p500 to complete a 4th wave flat type correction. Any close on the weekly chart below 1080, the S&P500 will be visiting 1000 faster than anyone believes. The structure of the market is showing bearish implications, this 1st wave of Primary wave 3 is providing us a glimpse of what is to come over the next 2 to 3 years. After wave 1 of primary wave 3 is complete we may see one more rally to 1200 on the S&P500 just to suck everyone in for the biggest leg of this bear market and that is wave 3 of primary wave 3 or as most Elliotticians say the 3rd of 3rd wave. If wave 3s are never the shortest and usually the most dynamic; just imagine how dynamic and fast the 3rd of 3rd will be compared to this current structure. Any longterm investors should be in cash right now and wait for the buying opportunity of our lifetime within the next 4 years.