Click here for the remarkable resemblance of the Patterns of 1987, 2011 and 2015 and the S&P500 Strategy to play.
If the current Elliot Wave Daily pattern matches the patterns of 2011 and 1987, then wave 5 down will target 1860, 1830, 1780 and maybe even 1750.
Last Friday, Price formed an inverted Hammer. If Monday the selling continues, this Hammer is confirmed.
The RSI is showing the same arc pattern (up and slightly down) as well as the VIX indicator, known as CM Williams, see chart green and red bars.
The Timing for the IV Low could be end of September, 1st week of October (TTCM date 6&10, Bradley 9&10). Click here for the 4h chart based on Time and Cycles.