All bear trends must start with days like these. We got a close beneath the upper proposed wedgeline of the 2+ year bearish rising wedge. The next bear signal will be a solid close under "QE3" day.
Primary count is the bearish rising wedge that will resolve hard and fast to the downside and result in a great panic in a very short time.
Apple is a downside leader today. OBV negative divergence.
Top alternate count is of course the cycle wave double zigzag. One squiggle interpretation of the double zigzag cycle wave count is shown below. This only implies that Minor 4 is playing out and if that is the case, it will intercept the price area of the previous subwave [iv] of 3.
Top ALT count shown on INDU. Projection price and time has been toned down to match the Wilshire squiggle count above. In reality, you can already label the waves since 2009 low a double zigzag cycle wave. It doesn't matter much in the long run considering both the P up count count and cycle wave zigzag imply the same thing at this stage. I wouldn't argue against either.
Wave labeling color code as follows (note - [brackets] used in lieu of circles for convenience sake) :
Grand Supercycle - BLUE - [I] [II] [III] [IV] [V] - [a] [b] [c] Supercycle - GREEN - (I) (II) (III) (IV) (V) - (a) (b) (c) Cycle - PINK - I II III IV V - a b c Primary - BLACK -      - [A] [B] [C] Intermediate - RED - (1) (2) (3) (4) (5) - (A) (B) (C) Minor - BLUE - 1 2 3 4 5 - A B C Minute - GREEN - [i] [ii][iii] [iv] [v] - [a] [b] [c] Minuette - PINK - (i) (ii)(iii) (iv) (v) - (a) (b) (c) Subminuette - BLACK - i ii iii iv v - a b c Micro - RED -      - [A] [B] [C] Submicro - BLUE - (1) (2) (3) (4) (5) - (A) (B) (C) Miniscule - GREEN - 1 2 3 4 5 - A B C
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