Long-term support Trendline was breached & re-tested. We are currently managing several Long-trades we bought at the first drop-leg down...always buy Wave-A down and manage it with stops. A NEW lower low may / or may not happen, I would guess the probability of a NEW-LOW may be abut 60% to 40% it goes up from here. Wave-4 corrections can be messy so we could also see a triangle structure form.
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Here is a slightly less BULLLISH alterative count, which correlates nicely with the Fibonacci sequence starting from #4865 to the covid drop
I sure hope we don't hit a new low. That would trigger a Dow Theory sell signal. The most recent Dow Theory sell signals were in October 2018, August 2019, and March 2020. More often than not, Dow Theory sell signals presage bear markets.