In the most bearish path Garrett has us possibly bouncing here as iv of 3 of (C) off the Aug high. It might also be able to count that red (C) as an ED and this is trying to start a larger bounce as 4 after abc for 3, but either way it is prudent to FIRST look for only an (a)(b)(c) bounce toward the 3800 resistance region before anything else.
As he has discussed IF this is a 5th down of an LD for (A) off the Jan top then that 5th can stretch lower before starting a (B) wave bounce back toward the Aug resistance region.
That said we are very oversold by many metrics and while the bullish 1-2 start to a (5) was invalidated and I in agreement with Garrett that a fifth wave to new ATHs is now much less probable, I would like to see more of a larger bounce start. That could be as the C wave up in a slightly expanded flat (where the B wave just made a nominal LL) for the yellow (B).
The tab reads "Alt 2" that is because this was CLEAN but I did not need to restart the entire count at larger degrees.