Wave 1 down of NASDAQ composite nearly complete.

Looks like a 5th wave ending diagonal is playing out.  Sucker's rally expected tomorrow and it should be a good one. Wave 2 is often a vee style retracement because everyone figures that the pull back is done, the market terror is over and that the old trend will re-assert itself.  This generally results in a 5-3-5 a-b-c rally which can be shocking in its presentation.  But traders should be wary of it IMO.  Either sit it out or be nimble go long the market at the end of today (like I probably will) and then dump it after 5-3-5 plays out before flipping back short somehow (I will play the VXX because it is so leveraged).

Here is my model for the next couple days.  So, either a "black Friday" or black Monday" style sell off.  I'm modeling that 250+ COMPX points will evaporate during wave this small 3rd wave: