...Still bearish, huh?
There's a chance that we go to 360 to complete an even larger ABC off the 152 low. Still bearish? Absolutely!
Don't go getting out your moons and trains just yet!
A new push that reaches 360 - 370 would mean that THE bottom is behind us and the bear market is pretty much over.
This doesn't mean that we couldn't test lows close to that bottom after reaching 360, see November 2011.
While it would break the year long trend line, I don't fully agree that THE bottom necessarily MUST be in. A rise to 360 or so could be seen as a false break if it didn't consolidate above the trend line for too long.
As always, I keep my options open and will assess as it happens to make better judgement about it at that time. For right now, EW allows for this correction to extend there just like the B from May '13 and the IV from November which also broke (believed to be at the time) strong trend lines. Either way, it will test near the lows, as you said, even if it's a truncated final wave down.