Note that #2 means our long time bull market could come to an end and chance for bear market is significantly higher. In that case, yes, there will be an initial A wave down.
So far, until the key support is broken, I am still treating the current movement as correction (vs bear market), and view current downtick as C wave down. But as indicated in multiple posts, QQQ in the 485-450 range is a yellow alert zone.
If the key support is taken out, will have to shift this to a lot more bearish view.
