$HD sunk hard after earnings after a cautious guidance and then bounced almost immediately following an announcement that talks on the debt ceiling where encouraging and ongoing, this has altered the count slightly and looks like this Wave 5 should end as ending diagonal, where waves overlap each other, this is only found in Wave 1 and Wave 5....so this is further confirmation that we should be in Wave 5 however.
Finished below the 200 Day MA on the 1hr and I still expect this to drop further down, lower lows and lower highs, still confirm the trend is descending.