We went right back to the upper trend-line, no big surprise after 1000 points. However, within wave 3 wave 2 was a zig-zag as was the wave 2 of the entire structure once complete so, no matter how you count it chances are pretty good that the zig-zag in todays trading is just a part of an incomplete pattern which, in all likely hood will ultimately take the shape of either a “flat”, or a “triangle”. Todays action would just be the a wave of an a-b-c or of an a-b-c-d-e (as shown). This triangle measures about 300 points which would imply that once this 3d leg is complete we will be just above 11000. Then another 4 and 5 to complete this wave that started at 12200. Then another 4 and 5 to complete wave 1 of C.
The above count is very tentative. Very often a series of 1-2 waves starts an initial move and things just keep going, also the degree in the above analysis may be incorrect, but these are just minimum targets!, things can get a lot worse.