Simplifying the count, that is taking out the 1-2, 1-2 start and using just a 1-2, we have progressed roughly according to plan. The low occurred early in the morning in the future market – see enclosed Dow mini futures – that hit a low around 23200. It looks to me that we still need a 5th wave down and often the futures show where that might go. If we do get to about 23200 we are looking at 3000 plus points or almost 1/2 of the gains that Trump so eagerly takes credit for. We are already on a path of a government shutdown and we still have low rates, low taxes, 100% first year amortization and soon another trillion or so in infrastructure spending. Can things get better??
P.S. 25200 is about a 50% retracement of wave 3, 25400 about 62%. Both are possible targets before we go down again.