This is the EW chart how my best friend see this situation.
Originally he was targeting to short 1250-1260.
It is not opinion of one of those Prechters who are allways bearish anyway (or been either during the uproad) or opinion of any of those public community bearish EW writers or commentators who get too extided about EW without understanding the mandleborot increasing fractal behind of the theory which expanding and creates trends, not to mention the actual other real skills.
Its the opinion of previous investment banker, hedgefund operator, hedgefund manager, investmentbank propietary trader in German and US, private investor and my best friend with over 20 years track-record from the top end in my country and I do not have any plans to disagree with it. Its scenario delivered by phone some time ago and it has started to suggest it might be accurate.
His opinion is we will not see SPX 1250 for some years to come and change for actual wave3 to the downside occured yesterday.
For this reason I started to load from my library today bearish charts / sets.
Post below done today is one kind of safehaven I am looking.
