Per the real time snapshot below, the market did reverse downward in accordance with the model and is now at the point where red will have to either express itself with a bounce to the 50 fib or the blue model is going to take over.
So basically, we cannot be sure if the wave 2 bounce is completed yet. By the nature of the 3 wave move down from the peak I'm starting to wonder if what I had labeled as 2' before should really be 2. In other words, I think I'm going to end up having to shift my primary model to the red path below. It suggests that the bigger banks like Goldman Sachs will report good earnings this AM. Time will tell but use the weakness in UVXY to build a position because this is likely going to be C of B at best and at worst it will be 2 of 5.
Stockphoria will soon turn into stock panic.
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