My post on another board, based on a synthesis of work done by various wavers.

First cracks?
pedro_deleon – Mon, Oct 9, 2017 – 11:07 PM

The first bearish cracks in this beast could arrive late this week, or early next.

And that’s assuming we recover today’s catastrophic losses over the next few days.

Nevertheless, in EW parlance we likely have multiple 4,5 unwinds* remaining.
Basic EW requires that you can count to 5, and spell ABC.
Fed intervention means that you need a PhD in economics or physics, because you can get multiple sets of nested impulse sequences buried within a high degree wave. (Think back to hierarchical bookmarks nested within folders within folders)
In this case, within the high degree 5th wave that launched Feb 2016.

So no final top remotely in view yet, IMO.

*Potentially, here’s my counting of the 1,2s that require bookending:
1 set at high degree from 2010-12 if a flat.
2 sets from that period if not a flat.

More sets of 1,2s after the Feb 16 lows (which ended high degree W4)
First set from Brexit (within W5)
Second set from election
Third set from the brief Apr drop that led into the current subwave 3 deep within W5.

So four unwinds ahead still, at a minimum, potentially. Possibly five.
At least one of which will be a larger 4 and 5.