Some things suggest the a deeper "fade".

I see even more risk here, not less. 

The only way I see some things making only a nominal new low now is the yellow LD for alt (A).

MANY names can argue for this being a B wave in a bigger (A) rather than A of a bigger (B).

@NQ# - Primary Analysis - Jan-18 1232 PM (1 hour)
@NQ# - Primary Analysis - Jan-18 1232 PM (1 hour)
@NQ# - Primary Analysis - Jan-18 1230 PM (1 day)
@NQ# - Primary Analysis - Jan-18 1230 PM (1 day)
@NQ# - Primary Analysis - Jan-18 1232 PM (4 hour)
@NQ# - Primary Analysis - Jan-18 1232 PM (4 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.