The red count could just keep accelerating down now or a bounce to maximum the most recent high to remain valid.
The blue alternate count could bring us much higher and could even retrace 100% the entire move from the late July top or even exceed it and remain valid but would be filled by renewed selling.
Right now with short term bullish divergences the alternate count could be in play or we could just see the divergences not play out and have continued selling or a smaller short term rally.
Both scenarios call for a crash, just looking at the possibilities for the timelines to play out.
The blue alternate count could bring us much higher and could even retrace 100% the entire move from the late July top or even exceed it and remain valid but would be filled by renewed selling.
Right now with short term bullish divergences the alternate count could be in play or we could just see the divergences not play out and have continued selling or a smaller short term rally.
Both scenarios call for a crash, just looking at the possibilities for the timelines to play out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.