I didn't find any time to write the weekly update for the SPX so sorry about that. But since the Nasdaq count looks much clearer at the moment anyway I prefer to follow the Nasdaq.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg88sb5ZK6k2vLKHQbrrqEpJk1Z5dS34OXkgVbO0Il4jCLC2h_90dkLKCm7Pkbpq2uxCHjqldf1QQoSU9HpQG_w_S9uVWeXTujIlOVmTq4gD4tJgM0WqXE6BDkLp0xKlC9KYsbXHXwKKUw/s400/nasdaqmediumterm20100110a.jpg)
The magic numbers stays at 2285.23, the wave [iv] low. As soon as the market falls below that level I think the correction or even a new downtrend has started.