A midterm look at the SPX

The S&P 500 has tapped a midterm GP and a trendline that formed mid-July at $3,903. I am expecting a relief rally in the coming week up to the newest GP from the Aug. high and the Sept 1st low. Along with the GP there is a trendline resistance from the top of wave 5 to the top of wave B (I forgot to draw it in until after I posted this). This would complete wave D of the 5 part corrective wave series. After D we start a decent on wave E, I am expecting this wave to get us to $3,786. (.786 Fib)

After this point I will publish another idea with charts. As for now I would expect after wave E bottoms the SPX will rally back up to the trendline drawn on the chart and get rejected.