The primary count is Minute [iii] of Minor 1 of (1) of P[3] down. Intermediate (1), being the first subwave of P[3] down, should try and take prices beyond P[1] which was 666 SPX. Hence is why i have this market's count only in Minor 1.
We are looking for the bottom of Minute [iii] is the best guess count. It may have bottomed today or we get a final capitulation tomorrow.
Selling pressure was historic. The market tried to bounce near end of day but broke down yet again. I have usually suggested P[3] would be stronger than P[1] right out the gate. It has been indeed so far.
H&S shoulders target for the SPX has been reached and then some. Industrials exactly hit its target today. The NASDAQ composite has not yet hit its H&S target. So we are likely getting close to the end of Minute [iii]..But indeed this knife is sharp.
Squiggle count - I'll work on a more detailed one and post later.
Here is why I have this labeled as Minor 1 - If you have a target of DOW1000, as I do, for the end of the bear market - thats a long way down. It is also likely to be much quicker than P[1].
The theme is "back to the '70's." Stocks, houses, jobs....
Once the neckline at 666 is broken, there is no support. Thats the vision.
