SPY: ReevaluatedEarlier in the week, it appeared that we were preparing for a Wave 3 down. After this sharp V shape recovery, I am changing my stance. Instead of a wave 1 and 2 completion, I'm seeing this as an ABC corrective wave. The movement from Aug. 5 until now is showing a completion of wave 3 of wave 1 of wave 5 complete. I'm expecting a retrace for wave 4 to the 0.382 fib retracement of 541 for completion of wave 4, then a final wave 5 of wave 1 to 560-561. Larger Wave 2 should bring the SPY down to 529-530 if wave 5 of wave 1 completes at 561.