G'day

The bounce that started on July 13th is pretty weak and overlapping, we are still below the peak of late June - actually we retraced more then 90% and that should ring a bell that we might be in a potential flat correction.

Let examine the price action since the conclusion of the triple mid June :
The move from the low could be five waves up, I am not certain that it is five waves up, but it could work as an impulse.
From there we counted a double zigzag (wxy), this can be wave (a) of a flat.
The recent advance appears a double zigzag that retraced over 90%, this could be (b) of a flat. 
What wave is missing in the potential flat? A (c)wave down and that should be an impulse.

Visualization of this idea :

Let see if we get that (c) wave down, it could be a nice buying opportunity. But take notice, even if this idea plays out, all this price action can still be part of a bigger X-wave, so it does not really mean we have bottomed. A lot more strength is needed to be sure of that.

That is all for now, good luck and have a nice day.