One new count possibility that today opened up for me is that the QQQQ may have just finished the b of an abc off the January high today. That would take us down to 38.82, if A=C.
That's the first time my count has had a more bearish variant added since the move down began. Here it is. I'm concerned that we couldn't hold the 50% retrace level of the Jan-Feb down at the close today (41.79), that we aren't moving up quickly enough for this to be an impulse and volume on today's breakout was minimal. To me, those three factors are all short-term bearish as a result. If we take out today's high, this count could still be active (the 61.8% retrace is at 42.14), but I would rather take my chances long at that point.
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