EW is VERY subjective but I like it when combined with other indicators. This would certainly get the fear to where it needs to be (another 5-8% lower). The 100w looks like the next zone of support. When you run the fibs from that area, the 50% will meet the 200dma. Remember, SMASHING though the 200dma on VOLUME is a MAJOR SELL signal. Getting back above it (for more than a few days and few % higher than it) will be tough imho. For bears, this test of the 50%/200dma (and probably even the 62% and gap) must hold and turn down aggressively in wave 3 down (you thought this sucked?) For bulls, they need to power through all that resistance with (hopefully) a breadth thrust near the lows to help identify this was wave 4 of the bull and not the start of the bear market. The upcoming (real) bottom and rally will tell us more...