Yesterday I posted up a chart showing the possibility of a c wave decline on the markets. Today the price of $SPY broke through the support established on 8/16. Here is a chart showing a possible target for the c wave decline. First I measured the rally set in on 8/9 and drew a line down to the first lower low established on 8/16. I copied the line and moved it over to line up with the lower high established on 8/18. The target are is around 104.40 and corresponds to supports established previously (shown by black arrows on the left). This is a possible example of a mix of fractal geometry and Elliot wave theory at work. The next few days should show if this pans out. As always one has to be ready for all scenarios.