Prior ABC Ideas closed for blowing through projected pivot; we're dealing with a monster here, not a garden variety correction.
Topping formation in Wyckoff distribution. Will sell like Hell, then bounce back into a lower high zone, then sell again... and again.
Looks impulsive. We clearly in Three not a C, which should've turned today.
Three typically = 1.62 x One, so likely headed to 4365 for pivot to Four.
NB: Three can extend up to 2.618 of One, although uncommon... watch and see.
Four will be ~ half as tall as Two by alternating EW rule, won't bounce very high and can't pass One.
Five can be ferocious, may extend up to 1.62 x One but is typically same length, although commonly it measures
.618% extension area of the first & third waves combined measured against the high in the fourth wave.
So to get Five need to see Four. This chart a wag and guess. It's goin pretty far south IMO. WOULD NOT JUMP IN BOTTOM FISHING YET!