And let me show the updated chart at noon.
We got what we had expected!
Subwave b down retested the morning low. And then we got rally to 3,082 in the final subwave c of wave ii up!
Let’s talk about teh next target for wave iii down.
In corrective a-b-c- down structure the final wave -c- has an impulsive structure.
That subwave -c- of wave ( b ) down started at the top made at yesterday’s close.
Impulsive structure means it is subdivided into five micro waves.
But because we deal with a large -a-b-c-corrective structure that is not a regular impulsive structure but the “compressed” one.
That essentially means wave iii stretches not to 176.4% ext of wave i but to 123.6% ext.
In this case 123.6% ext = 2,961.
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