This might be correct. What tipped me over was the last 3 days candle formation (don't know if it's called anything), but what I do know from observation they are not often successful in producing thereafter meaningful upward movement, i.e they more often than not are precursors to further downward, esp. when the 3rd has a shorter body than the 1st. So I recounted, looked etc. If from the low of 2008 is counted as all one wave, and wave 2 is a running flat (from April 2010 high to Sept. 2011 low) it produces a total drop of 146.1, of which wave 4 is 92.1 & 63% of wave 2, really very close to 0.618. Both flats, similar & with a classic fibonacci ratio.
So, that was very likely the top, labelled with (the 1st) 3 wave drop (actually a is slightly in the wrong place), but yes. This scenario also fits with the widely publicized break of e.g NYSE Composite below the 200DMA, break below, move back up, then down again.
So, that was very likely the top, labelled with (the 1st) 3 wave drop (actually a is slightly in the wrong place), but yes. This scenario also fits with the widely publicized break of e.g NYSE Composite below the 200DMA, break below, move back up, then down again.