The price overlap below 1256 invalidated the 15 min chart I had been posting. This should be considered a big red flag and cause one to reassess the counts . Hopefully you have been paying attention to the alternate count on the 60 min Primary count below.
Because of today's overlap, we must consider that wave X may be complete. Though I am emphasizing it here, I am still calling it the alternate count because there is still one bullish option that remains as presented below on the 5 and 30 min.
|60 Min - Primary|
|Daily - Primary|
|5 MIN - PRIMARY|
as to how this applies.
|30 MIN - PRIMARY|
I'm not necessarily a big fan of this nested 1-2 up but it is what it is at the moment. Wave 2 red has not quite retraced 1 red 62 % yet so it is valid.
I will look at other potential options that may call for the end of five waves up off the 10/4 low. This option would fit well with the "repeat" chart below. This of course would imply a much deeper retrace though.
|5 MIN- BEAR OPTION|
|30 MIN - BEAR OPTION|