http://www.pretzelcharts.com/2017/09/spx-and-long-term-oil-update.html

Pretzel appears to be favoring us somewhere early in blue (v) down.

“Crude Earl has been pretty uneventful for a while now, which actually fits the idea of a fourth wave. Back in June of 2016, I noted that a fourth wave at this degree could “unfold over the course of a year or so,” so this continued sideways grind isn’t terribly surprising.”