i understand that the A and C of the internal AB=CD of a butterfly could be at the same level, that is, A=C in the most non-standard case and the butterfly is still valid. right now, price could still bounce back up to complete the right wing.
there is an AB=CD structure inside the BC leg. check whether price has hit the 127.2 or 161.8 extension. and if 161.8 extension is >= C or <= C.
also downside thrust is pretty good. SP500 started to turn lower and so has gold but not to significant levels yet. but e/u is holding right at trend line SPPT on H1. so... as much as i would like to be able to say it's gonna go this way or that, this whole setup looks more and more like a wolf waiting to spring a trap. the quiet before the storm. i think anything could happen here. like a huge snapback up. it's gonna be interesting to see the size of the spikes when the bernank speaks later today.