BSE Sensex Elliott Wave Count

A few days of price action changes a whole bunch of things, but for now the overall trend remains down. Everything here is in comparison to my previous post dated March 22, 2011 available here.
What i considered was a completed wave III, may actually be wave (1) of a much bigger III.
What i considered was a completed wave IV, may actually be a (ABC) retracement of (1), followed by an (X) and another (ABC) which i think completed on Wednesday 13th with the 400+ pt move to 19737, which is a few points short of 76.4 %retracement of wave (1). This C leg does seem incredibly short but i give more weight to the time chart which seems indicate an inflection point on the 13th, as also indicated in my previous post.
Conclusion for Dummies:
1. For now i think we go down to 18250. If this holds, this could mean that the second (ABC) has not yet completed.
2. Break of 17750 confirms todays count, and would put us in wave (3) of III a.k.a (Mama Bear)
3. If we get above 20750, egg on my face.

and yeah ill be..