We'll keep throwing up some squiggle count, but bleeder waves can prove tough to count.
The key is we can see each intra-day bounce is 3 waves, followed by a 5 wave impulse down. The day ended with the downtrend line again intact on the cash index and obeyed.
Downtrend line intact on the SPX....
And as far as that bleeder wave in 2008, I like the Wilshire count also: