FIRST AND FOREMOST... BOTH red and blue are A B C corrections. Red is the LONG Version and BLUE the short..
"IF" the market turns now... and Wave A completes here, we will be on the blue path. It would still meet the guidelines of closing within the "area" of 4. "IF NOT" and prices goes to the long red A then that too meets the guidelines of closing within the 'area' of 4.
Every thing after that is what I suspect will happen correction wise after the main conflict of Red vs. Blue is over.
IN EITHER CASE, I made this chart as a CORRECTION to my "Follow the yellow brick road" chart.