A fall from 2007 down to 2009 March lows unfolded clearly in impulsive structure, which we know is indication of a trend. As such, we are very confident that larger trend has now turned down, especially after only 3-waves of recovery into 1370 region; exactly for 78.6% retracement of previous impulsive fall! In fact, even a fall from this year high unfolded impulsively labeled as wave (1) followed by wave (2) corrective pull-back, which will look for a top around 1300 area. Notice that we are also monitoring a huge head and shoulders pattern, which is about to complete very soon! Right shoulder is wave (2) on the ... (full story)