The whole move off the top looks like three's so far. So the best count is that this is just part of a Minor B wave retrace pattern of the final Intermediate (Z) wave zigzag. Could it be a series of 1's and 2's down? I guess it very well could. But the whole thing seems contrived and since its OPEX week, the jury is out.
I was expecting a hard reversal after what I am calling an "A" wave peak occurred and I guess today was that reversal which of course happened at the most opportune moment for the MM's.
And notice how they didn't let anyone enter the trade as the opening move down was so hard and fast other than those that had staked out a position the last few days.
Well, the entire trading world knows the dealio: up or down LOL.
Actually I think thats not too bad a thought to have. Because I don't know if the SPX is capable of staying range-bound for yet another entire day.