US stocks continue to be creating volatility and pushing the fear trade. That said the volatility is both unnerving and unusual. Wave 2 bounces end in a loss of momentum, in this case we are seeing insane speed on both sides. The lower trendline of the lows at 2645 is to be watched, If it holds somehow then we may see one last attempt to rally to 2785 to form a wave B triangle instead of a wave 2 flat. This is an alternate scenario and subject t 2645 not breaking in the next few days. Wave 3 or C down will eventually break down to lower lows so that is another story. If 2645 breaks then we are anyway in crash Mode and US indices are set to lose 20-30% in the coming weeks.