market did rebound to the 274xx level as suggested but it gaped up with great momentum and went past the 0.618 level to the 0.786 level of wave i usually a wave C down would be swifter and wouldn't "stall" that much. Market need to come down again fast or I'm a bit worried for the bears
An alternative count would be wave 4 is taking the form of a contracting triangle (red arrow) ( which the first 5 wave down could be counted as 3 waves) and shorts should be covered around the 272xx-27xxx area.
the high of last week 27625 is their last line of defence. it cannot be breached or it s game over for the bears