S&P 500 Price and Time Model

The Probability Model suggests that the following scenario could occur.

A Short term low at 1449.
Rally to 1476.50
Final Collapse to 1387 for the end of the correction.

The time model continues to suggest the date of August 23 to August 24 for the ultimate low.

Remember that these models are for guidance only and nothing is ever etched in stone.

However, it does appear to me that the final low is NOT in place yet and while there has been some short term fear created, we have yet to see the wide spread despair that comes with major lows.