If we get a final violent rally, this would be the place where it occurs. We have reached a spot in the count that presents divergent options.
So, we’ll break down the 3 likely scenarios:
First option: Presenting the most bearish count. It is just a straight-up Intermediate (1)-(2), Minor 1-2, Minute [i]-[ii], Minuette (i)-(ii), Subminuette i-ii count. Therefore, we are literally approaching the point in the market where it rips apart in a fantastic selling cascade of several thousand DOW points, etc.
So, this is where Lucy is holding the football…..
Second option: Here is the count if a violent, upward, multi-day rally occurs it would probably be labeled Minor 2 as I suggested a few days back except in the form of an expanded flat. It is shown as the “alt” count below. Prices would likely overlap slightly with Intermediate red (1).
Third Option: The third option is just a slight variation on the most bearish first option. Slight pop forming a wave (ii) peak and then it falls apart and selling intensifies.
I actually like this option best. It seems every pop is being heavily sold into.
