Today's sell-off filled all upward gaps since the August low in SP500, but one. See chart. The decline also helps to consolidate our tracking counts.
Today's low in SPX likely marked the end of
[red] a zigzag from the nominal high, which could be the end of a potential expanding triangle.
[black] wave (iii) of [iii] of an impulse wave decline
Today's low could be the end of the blue five wave decline, but it could be retested or exceeded nominally as the blue count may be missing a wave (v) of [v]. Note that the blue wave [iii] cannot be the shortest wave, so any breach of today's low is limited - otherwise an extra extension or another count is in the works.
[925am] ES upate-
Q4, not QE4. See chart.