[GE] collapse update

Even a collapsing stock like GE needs the occasional Elliott wave defined breather in order to suck more fools in before heading lower.  I wonder if this will BK and then be broken up in BK court or if it will break up to stave off BK? 

GE has been a debt Ponzi for many years, a shadow bank which over the past few years was likely forced to sell off all of the shell game financial "assets" that it had which protected its earnings from a fair analysis.  With those protections gone and without the implied "too big to fail" backing of the federal reserve, GE is done for.  I believe that the fed likely ordered GE to divest like that because it was a systemically important financial institution (SIFI) as defined by BASIL III.

The 2/B wave can bounce higher than the level of the prior 4th so it bears watching (no pun intended) as to how high the 2B wave jumps.  But if it does so in 3 waves then the shorts will come right back in on this one.