The market had a big sell-off today to complete or nearly complete an impulse lower that began at the Tuesday high. After spending quite a bit of time today thinking about all the options, the three best on the intermediate scale are above.
The primary count is an excellent fit with all sub-waves. It suggests a test of the all-time high for a flat B wave, then an impulse down to perhaps the current level to complete a flat wave (4). The first alternate' count has its only problem in early June with the structure of X questionable. Notice that it does suggest (4) is complete (and (4) is now reasonably sized in relation to (2)).
In the longer term, an all-time high in the future still seems very likely.
Tomorrow a quick new low of a few points is possible, but prices should quickly move higher soon.
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