All of the cycles and methods that I use in my analysis are unanimously bearish with a major decline commencing today, and continuing through December. The symmetry indicates that the decline will be steady, relentless with no significant bounces until 1044 SPX.
A substantial bounce is expected from the 1044 SPX January 2012 target. A final low is estimated at 1025 SPX early 2012. The entire process is mapped out in the symmetry to be an inverse Head and Shoulders pattern encompassing several months early 2012. The target at the green arrow is the Left Shoulder.
This is a market trending downwards. There have been lower highs since late October, and in fact, lower highs since May.
The coloured arrows correlate to my "2008" pattern. Further charts will be coming shortly.