We had anticipated a deeper wave b in the a-b-c counter-trend wave two. That it was shallow , probable a triangle, does not matter as its purpose is little more than kill time. The c up probable started this morning with mini Dow futures down about 240 points. All that quickly changed but we have not done enough. At least another almost 400 points would bring us to the 4th wave of previous degree level. A little higher to a 62% retracement. All this could ,of course, happen in a day or two.
There is an outside possibility that ALL of the action since the low is just a wave a of an a-b-c. This would end up taking a disproportionate amount of time and is therefore not our first choice.