GE groundhog day update

Here is a back link to the prior General Electric post.  Today's action was bearish but not conclusive.  The market is leaving itself plenty of options still by not hitting a lower low.  If it is about to enter a 3rd wave down it should do so very soon and the most satisfying mechanism for this would be a gap down tomorrow as shown by the pink oblong.

The jury is still out on whether the action here is motive or corrective.  A gap down tomorrow as shown would validate this count.  A slower move down that resulted in a lower low would suggest that a 5th wave had just formed (5 of 1) leaving the big gap down wave to have been just 3.  For all we know this could be forming a 4th wave triangle.

Right now we are in no man's land as to the count.