First I was playing with the idea that this might be a 1-2, 1-2 of 3. After procrastinating long enough I prefer the 1-2 scenario which would imply that we are now in 3.

Now that apparently the solution of America’s problems with guns is to have more guns, that is teachers carrying concealed handguns, you have to conclude anything is possible. This should drop fast from here on!

So today we briefly got to 25432 and then the Russian meddling news broke. From there we have an initial 5 waves down followed by an a-b-c flat wave 2. Next should be wave 3 down which after a long weekend brewing over all this stuff, should be pretty fast and furious.

The five wave wave shown in this chart is just wave 5 of wave C of 2.

Time will tell.

This is the best guess for the moment. This should be an a-b-c X a-b-c or a 5-3-5 zigzag wave 2 with a ideal target somewhere around 25300 but higher is certainly possible as this is ,after all , a wave 2. Then we go down again

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.