I would like to hear the so called fundamentals regarding Greek debt. [GREK]

Someday someone will have to explain to me all the "fundamental" reasons why Greek debt is all over the map.  I don't think it is possible.  But EW have been doing a pretty good job so far.  I have been tracking this using the GREK ETF and here is a backlink to my previous post on this ETF and below is the original model I provided (and am still working off of).



 
After using EW to correctly model it to "the expected price range of...$14-$17" and then cautioning readers "Since it is already at $13.65 one should be careful about holding this over weekends and of course use stops because the model anticipates a lower into the end of Q1.", it subsequently peaked at just over $14.50 and then began to plummet.  So it looks from the current zoomed in snapshot (below) that the blue path is being taken.  For now I'm not sure where this is in the 5 wave count down. It is possible that what I have labelled as red w3 could be 5 waves down.  And then, is that 1 of 5 or 5/5...  I need more data on this but the bounce target is now fixed no matter how low it goes first:  ~$14.40.