Keeping an eye on possible Elliott Wave counts (using QQQQ)

This Elliott Wave idea is just something I'm posting in case it proves to have a greater significance ... I'm sure I'm not the only Elliott Wave-r to have been keeping an eye on this. We'll just see if it proves to have greater significance than simply for the drop out of it so far. Meaning, whether it is a signal of a deeper move to come.

I do allow for the possibility of a pullback upward (such as a wave 2 pullback up) that could go either to 31 or somewhat higher (such as the upper Bollinger Band in this 30-minute chart), before a continuation of a swing down.

This idea will, obviously, be negated if price moves above Tuesday's high. This idea and the possibility of lower lows that I am targeting (to Terry Laundry's 746 area or perhaps even lower) is not Tony Caldaro's Elliott Wave count - but, if price does go above Tuesday's high then Tony may be right about the rise into Tuesday being the initial movement of a higher C wave in the works.

I'm using QQQQ just because it's convenient, but I believe the idea applies to the equities markets generally.