a first down move (wave [w] or Alt:w ) seems to be ended, so a bounce could start.
I confirm this preferred scenario (neutral/bullish); the wave 4 has built three wave and could be a flat pattern [a]-[b]-[c] already finished or a triangle in progress.
Preferred scenario (bullish); the expected wave 4 of minor degree could already be over; wave 1 of 5 is in completion.
Alternate scenario (neutral/bearish); bounce in the wave Alt:x of wave 4 .
March 01, 2013 I wrote:
"The multi-month wave  of primary degree is ending with a "throw-under" beyond a triangle pattern, so we could be close to a bottom reversal".
This forecast seems to be correct; wave (e) has bottomed close to 50% Fibonacci retracement of wave (d) ; however a confirmation is needed, and this is the brekout of down-line of the triangle pattern.
Preferred scenario (very bullish): we are in wave [iii] of 1 of 1 of (1)
January 2, 2013 has completed the multi-year triangle wave [B] and started the downward wave [C] of primary degree, we might still be in the minor wave 1 of Intermediate wave (1) .
Preferred scenario; wave 4 of minute degree is started and after the completion, the downward move continues.