Yesterday the chart threw over E of red 4 and then broke back down into the body of the HT. That breakdown counted as a completed "5". So that's why I modeled in a retracement to kiss the upper rail from below as shown above before turning back down to break down the lower rail, this confirming that wave 5 down is in progress. You can see this detail more clearly in the 3 minute chart below which shows what is likely an expanded flat correction in progress. The target is the level of the prior 4th but if it wants to be very tricky then it can go all the way to the 50 fib in order to form blue 2. But then wave 3 will likely take out both rails and set us up to finish below 15500, thus completing green 3 in the zoom out above.
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