glennob, Sorry, I missed your post before I logged off last nite....was reworking a chart.
I have added an additional chart which shows the possibility that wave 3 may have ended already and that this we are in is then wave 4. Arguments could be made both ways.....
Discussing with Frank and Peg, I think we agree that it is "probably" a wave 4 of some type. I'll let them speak for themselves as it rolls out before us.
I have also a contrary thought which is this.....I have been counting this latest downmove as a wave 3. Another possibility is that wave C down could be made up of an abc where this last wave is wave c of C. In other words what I show as 1,2,3 could be a, b and c now, which may still have another leg down.
In that fashion then if this upmove breaks out and sticks the overall drop could be finished. I don't know that I believe that, but its a possibility. I am in the camp that we have more downside before its all over. The WHEN is what's to puzzle over.
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