As violent as the markets can head down, they can come back just as violently, which they just did this morning. This is all fitting into a potential triangle 4th wave position, but we should see a thrust to newer lows all the same. Any triangle is the sign that a degree change is also coming, which from my perspective could be wave 1-2 by one degree higher.
What I am showing is Submicro and Miniscule degree, so our next degree level higher would be in Micro degree. Until the Micro degree 5 waves have played out we really do not need to shift into a better fitting degree level, which can be done at anytime.
Eventually I would need 5 waves down in the Minute degree in which we may get close after the 5 waves in Micro degree have completed.
Unless we are dealing with an expanded top, this market should continue down in the next few weeks or so.