[Dogpile]

nah, ABC is standard Elliott wave speak...

markets often go up in 3 impulses (2 counter moves) for 5 'waves'
markets often go down in 2 impulses (1 counter move) for 3 'waves'

makes sense, first there are the pullback/bull flag buyers... when that test fails, they all get stopped out on a break of the swing low -- leading to a better set-up to test the highs. If that low is taken out -- then that is considered a 'trend reversal' (3 impulses down)...