The markets went up exactly as predicted. This upward correction to THE DOWNWARD TREND MAY OR MAYNOT yet be completed .
We EITHER have the abc correction already completed , and should start on the downward trajectory immediately. (Shown by red arrow)
OR
The ABC corrective with the markets going up as an X WAVE, yet to complete (shown in blue).
Either way the market in all liklihood YET to have more downside
X WAVES
The x wave is a temporary Interruption of the the overall trend. The TREND IS DOWN and this recent upward trajectory MAY be a DEVELOPING X WAVE. Once the X wave completes, (It can go even higher than the origin of A) the larger trend is expected to resume.
However , IN CASE the markets begin to fall from present levels , We will take this RECENT UPWARD correction to the ensuing downward trend as a SIMPLE abc correction in a larger time frame.
Whatever the case may be, MORE DOWNSIDE is still pending.