Getting closer to a meaningful bounce

I think it is more likely that we are trying to complete the (v)th of circle iii with this extension and the bounce to 2505 SPX was ALL of (iv).

While I think we should get a decent consolidation as circle iv and then ideall an ED down for circle v to slow things down a bit this could stretch more now and possibly try to complete ALL of C of (A) with out a clean 5 down in a "C" wave.

That said, NQ and some Dow names have more room to fall and reach relative targets that SPX has already achieved... this could continue to keep pressure on the broad market stretching it lower even if it is slowing down.

I would say we are very near peak #Panic within the smaller #Sentiment cycle of this (A) wave and should get a bounce as iv to set up the real #Capitulation.

Market is certainly in a precarious position, but thus far VXX and VIX seem to be under control, things are at extremes and a snap back as part of a ivth can be quick.

@ES# - Micro Counts - Dec-24 0754 AM (2 hour)
@ES# - Micro Counts - Dec-24 0754 AM (2 hour)
SPX.XO - Primary Analysis - Dec-24 0755 AM (1 hour)
SPX.XO - Primary Analysis - Dec-24 0755 AM (1 hour)
@ES# - Primary Analysis - Dec-24 0754 AM (1 day)
@ES# - Primary Analysis - Dec-24 0754 AM (1 day)
SPX.XO - Alternate 10 - Dec-24 0759 AM (1 day)
SPX.XO - Alternate 10 - Dec-24 0759 AM (1 day)
@NQ# - Primary Analysis - Dec-24 0804 AM (1 hour)
@NQ# - Primary Analysis - Dec-24 0804 AM (1 hour)
NDX.X - Primary Analysis - Dec-24 0802 AM (4 hour)
NDX.X - Primary Analysis - Dec-24 0802 AM (4 hour)
INDU.X - Primary Analysis - Dec-24 0805 AM (1 hour)
INDU.X - Primary Analysis - Dec-24 0805 AM (1 hour)
Zac Mannes is a senior analyst at ElliottWaveTrader.net and co-host of the site's Stock Waves service, which provides wave alerts and trade set-ups on individual stocks.