The most useful chart in the prior update was the trend line chart, so let's lead with that. I've added the most immediately bearish near-term count to that chart, and the micro 3rd wave target zone:
Bigger picture, if the larger red (2) is complete, that would put us on the edge of a nested third wave (the third of a third), which is typically fast and brutal:
In conclusion, if we're about to kick off a nested third wave decline, then surprises will be to the downside. I don't even attempt to counter-trend trade on nested third wave declines, because indicators get maxed out and fail repeatedly. Bulls primary hope still seems to be for a more complex second wave. Short of that, this type of count can turn into a waterfall decline. Trade safe.
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