US Indices fall below the 138.2% reverse retracement at 2750, meaning that wave 2 cannot still be forming and wave 3 down started. 3=1 is at 2650. However wave 3 can extend to 161.8% that is near 2400. All levels are open as markets are falling with a VIX reading above 50% meaning that we are crashing in extreme panic. The usual bottom we see near the 50% range has not happened so extentions to the wave count are on till complete.