SPX Appears to be Headed for 900ish

It looks like SPX (S & P 500, http://bit.ly/i0nsT) is heading for 900ish in the upcoming Wave C/Wave 5 downcycle (might get revised some after I do Fibonacci analysis and put more thought into it), because, there are downside gaps (below 1000) at 975.15, 940.38, 905.84, 855.16, 825.16, 811.08, 768.54, and at 676.53. 905.84 is the likely final gap to get filled in this Intermediate Term Downcycle since 4-26-10's 1219.80 cycle high, partly because there's a large distance from 905.84 until the next downside gap at 855.16.

SPX (S & P 500, http://bit.ly/i0nsT) has done (likely scenario) Wave 1 down to 1065.79, Wave 2 up to 1173.57, and, Wave 3 down to 1040.78 on 5-25-10, all labeled on StockCharts chart, of the Intermediate Term Downcycle since 4-26-10's 1219.80 cycle high, see http://bit.ly/i0nsT. The current upcycle since the 1040.78 cycle low on 5-25-10 is probably Wave 4 and Wave B up of the Intermediate Term Downcycle since 4-26-10's 1219.80 cycle high.