This is BCE over a number of years, looks like a big “flat”, an a-b-c structure having almost equal a and c legs. However the c should be 5-waves and it is not!
The first leg down is a fairly rare diagonal type 2, with all the associated overlaps etc., to $31.41, then wave 2Â back to $38.65.From there the crash all the way to $20.94 is wave 3 (one of 3 is barely visible whereas 4 of 3 is a very clear a-b-c to $27.57. We should or could return to that level to make a fourth wave but after that a fifth should follow to new lows. This is the ultimate in pulling yourself up by your bootstrips so it is surprising that so many are surprised.