Still a chance for the wave 4 triangle pattern...
... but that is fading fast. wave e of the triangle, while still smaller than wave c, broke above the upper edge made by waves a and c. Throwover happens, but it looks strange. This consolidation is taking a little longer than wave 2 (from the mid July low to the mid August tag of the 20 day moving avg). The triangle broke the upper channel of the motive wave from July highs. The open market chart is also between Fibonacci ratios of 0.5 and 0.6, so a little more to the upside.
Zigzag or double zigzag counts are quickly becoming preferred.
A distant 3rd place count is a flat.
Eliminating wave 4 triangle count would open up the possibility of cascading waves 1-2, which would be a crash scenario. The Chinese SSEC is into wave 3 of 3, so another wave of global sell off is around the corner.
