Elliott Wave - S&P500 Cash Index - 9 Nov 10

Over the last few postings I have reviewed the larger wave structure using the DJIA. Turning back to the cash SP500, we have the same structure that the DJIA does from the April 2010 high. An "A" wave down which ended on July 1 followed by the approaching end of a "B" wave.

The area from 1222-1228 is a fibonacci cluster area which also contains the TD Trend Factor target from the August 27 low. If my impulse interpretation from August 27 is correct then it must end before 1236 is breached since wave iii can not be the shortest when compared to i and v.