How the sentiment generated by sub-100 valuation will impact your analysis? In other terms is it possible that
wave counts will be invalidated by the panic/fear/disengagement triggered by a mid to high double-digits "doom"
scenario?
(sorry for the naive questions but I follow EW analysis only tangentially)
EW theory basically tracks market sentiment so panic is what's going to trigger sub-$100 prices. Please note that with EW, nothing is set in stone and there are almost always alternative counts or extensions that can play out. That's the beauty of EW theory, it is made of a series of rules that are flexible enough to allow for changes in sentiment at any point in time.