ref: http://trend-signals.blogspot.com/2008/11/bspx-ew-and-bkx-b-spx-closing-at-800.html
SPX weekly Ending IT wave 4 bounce at 943.85, 23% retracement is not likely.
SPX daily is showing complex triangle correction formation with a weak up-rising channel within a potential symmetrical triangle formation. It closed at 890.35 above 888.75 dma support with 60min showing positive divergence; thus, breaking below the channel support confirms bearish scenario which we had very weak Intermediate bounce with a symmetrical triangle formation rather than Inverse H&S formation showing a bit stronger IT Wave 4 correction.
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