![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHSM7iwIfZWk8XFA_I5mLBQnSxmG7WbSRnNtyzN0fymlJH88y2VBFwZhrdNC-zPKmuqmBla8fi87Ib0aawfRmFhg2P_EcH1nRMo4mpdYKDJ1xuVibpfZkxM0_LOfBU1zeTwst969eOeFM/s320/s&p500longterm05062010a.jpg)
I posted this on Thursday and four days later it seems as this might happen.
The rally on Thursday can be counted as wave 1 or A and the decline on Friday as wave 2 or B. Subwaves [i] and [ii] of wave 3 or C were already finished late Friday. Today's gap up will be counted as wave [iii] of 3 or C with subwave [iv] and [v] to come later.