Quote from: JustAnotherSheep on August 26, 2015, 02:57:05 PM

Seems we (may) have completed 3 of 5 waves down, which for me begs the question of whether this impulse will be the entire final leg of the 2-year bear market, or just the start of it ((1) of V of (C))?
If the former, it may likely end as truncated/double bottom depending on how far the 5 extends. If the latter then capitulatory wave to lower 100's/double digits is still on the table, although (2) will probably need to retrace very heavily (ie to ~$260's) for the rest of the impulse to maintain reasonable fib proportions.

image snipped

Curious to hear your guys thoughts on this, or any alternative counts.

I was thinking in the case of a triple zigzag that your count is good for (a) of Z. Alternatively, this 5 down could be c of (b) of B where we will get a nice rally above 315 to complete a large B counter trend correction to the 152 lows' A.
When I get home in an hour or so, I'll post a chart of what I mean.

Edit: Got home faster than I thought. Red would be the former and yellow the latter

Edit #2:
I do think your 4 is too short (in time) as it is right now, so i could see a 50% pull back and a C up over the next day or two.