I'm slightly modifying the zoomed in model from the backlink. Essentially, the internal waves of the current selloff tell me that the high level model should be followed more closely. It basically means a bottom in the $5 range instead of in the $6-mid $6 range as the low level models from the backlink depict. Here is my current low level model. I suspect that we could reach E of 4 by the end of the day and then we get the slap in the face tomorrow that wipes out the last of the gut feel traders thus setting us up for a very strong bottom.
This of course assumes that the lower rail holds during the next run at it. If not then blue 5 has already begun.
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