SPX Update: Morning Frustrations

So I was roughly done with the update before open, but am now about to throw eTrade through the window.  Last week plus has been nothing but trouble in the morning.  Anyway...

Last update (and Wednesday's forum call) expected that SPX still needed lower prices, and the market obliged, dropping down to the gray "4?" inflection zone before bouncing:

The decline from the all-time high was impulsive (five waves down), so the question now is whether the high is a B-wave (making the decline a C-wave) or not.  If it's not, then we have an impulsive turn, which would be either 1 down of a NEW BEAR MARKET (likely the generational SuperCycle Bear we've discussed previously) or A down of a correction (to be followed by a bounce in B, then C down).  I'm leaning very slightly toward the decline being 1/A down and not a C-wave, but we'll take it as it comes.  Trade safe.