A catastrophic market has a unique feature.

There are V bottoms printing at or before the 8 EMO. In the two ovals, the down leg (3 or 2 black candles) gets exceeded on a closing basis by the up leg (3 or 2 white candles) preceding an explosive move up. This kind of a burst talks about a Wave 3.

A Wave 5 can muster the V bottom as well, but the follow up would not be quite as enthusiastic.

With that said, I am looking for a 3rd and final pullback to the end of trend, a catastrophic exit with no stochastic bar associated. That eggyolk.