A strong rebound from above16,200 may be the beginning of Wave V]IV)Dc]5)5? or V]V)I3]5)5? .
Wave 5 should be shorter than wave 3 because wave 3 is shorter than wave 1.
There may be no new high if there is wave 5 failure.
Five waves DOWN, if three waves UP then new low, 16,200 may be broken.