Now let’s talk about my current expectations. I believe that NVDA topped in a large degree wave ( 3 ) up. From October 2018 top we should see a corrective wave ( 4 ) down. The initial move off the top is clearly structured as A-B-C. I count that move as wave ( A ) down. There is a potential that this move down has not completed yet. It still can drop lower into the upper green support zone targeting 44.0% retracement of the wave ( 3 ) up at $168.23. However, it nailed a usual 41.4% retracement fib for initial drop in wave ( A ) down and from here we may expect a corrective looking rally with an ugly structure in wave ( B ) up. Because bears were unable to drive prices in the initial drop in an impulsive five wave down structure, we may assign low probability to potential scenario of a strong zig-zag correction where the following decline in wave ( C ) would reach much lower levels (the lower green target zone). Taking into account tremendous strengths of the rally in wave ( 3 ) up and relatively weak structure of the first wave ( A ) down we may expect a flat structure of the wave ( 4 ) down. That implies that the coming move in wave ( B ) up may reach the previous highs (under the regular flat correction) or even make a new higher high (under the running or expanding flat correction ). However, the conservative expectation for that coming wave ( B ) up would be 61.8% – 76.4% retracement of the drop in the wave ( A ) down. This is where I drew the red target zone.