This is just one of several scenarios that may play out: The recent down-move over the last 20 days has only extended 0.618 of the larger move (purple (A) wave) and may have an extended 5th wave that meets a 1:1 extension of (A). Saying that the recent move is a valid impulse wave down, and it could be the end of the bear-move. On a break of the wave 5 / (3) low this scenario will be in play. otherwise, primary wave 4 has completed and we should see some strong bullish action for the next few months.
I will be interested in either one of these outcomes.
This is published solely to further my own education.