I think most wave counters probably think the 2854 low on Friday was the fifth of a first wave down.
There will be hell to pay if the first wave actually ended at 3007, and the power-dive to 2854 on Friday was an irregular B of 2.
|S&P 500 5-min, irregular B wave in the W2 correction|
The thrust towards the close today took us to about 3090 -- the underside of the topline of the giant Jaws of Death megaphone. If we kissed it back and reject it we are headed down in a free-fall.
|Jaws of Death top with throwover|