Which is correct orientation for this "S"?

[Blucenturion]

I photocopied the decals and glue sticked them. Due to the way the "S's" were arranged on the decal sheet, the correct orientation of the "S" on the fuselage is ambiguous, in my view; I need some help here. Which is correct? Thanks!

[rjdelisi]

Top picture (#2) is correct, I believe. Nice build.

[Bill Gaylord]

Here's how Scigs did his. I would imagine he researched the correct orientation: http://www.virtualaerodrome.com/image_t ... ser_id=297

[Blucenturion]

Thanks for the compliment. I did mine like he did, so it's all good. Thanks, Bill.