The fact we entered into fourth wave territory is evidence that the iv-v blowout count was right. The sideways movement we see now could be a larger triangle but I will post the idea later to avoid the hate when a premature count changes.
... EW is King of ponzi land.
This would be in a fourth wave position of some degree, and a fifth wave to follow.
But the issue is that US exchanges doesn't follow the chinese one, chessnut
The US exchanges have produced a typical abc correction in a valid context, while they are different markets they have to follow each other on the larger scales. The patterns from china are more reliable because china is more liquid.