GRT: Is the downturn over yet? Still too soon to tell....

Since GRT broke $.31 support, it has pretty much gone into a freefall mode. The Nov low came just short of 1.764 fib extension and also just shy of the bottom of the pitchfork. This still keeps the door open for one lower low. However, the bounce from the low looks somewhat promising. So far, we don't have a 5 wave structure up. If, price can keep moving upward and get toward the median line of the pitchfork and back toward 1.0 fib extension in a 5 wave structure and gets a 3 wave retrace that hold the Nov low, it will have a greater probability of calling a bottom and head towards new highs. All markets are very shaky, so best to wait and watch for now.