From Rob McHugh's market analysis:

The decline Tuesday was likely further development of wave {b} down of {2} up, with one more rally, wave {c} up of {2} up leading to what could be the largest plunge in two decades (see chart at bottom of page 8). That plunge could start at our next phi mate turn, which is ideally scheduled for September 29th, 2008 +/- a few days. There is key resistance at the Industrial's 50 day moving average, 11,388, and again at 11,750, the January 2000 top. If this count is correct, the next few days' rally will move the Full Stochastics to an overbought level, which would be the perfect setup for the monster decline coming.

Should prices drop decisively below last week's lows, below 10,459.44, then it means wave {2} topped Friday, and the most devastating plunge in years has likely started.

-Hysteria