Though $IBM did not retrace to the ideal range for a wave 2 (tiny orange box just beneath us), the pullback was in three distinct waves and so it may be complete (I believe that it probably is). The target for intermediate (orange) 3 is the orange box, though based on the longer-term wave degrees that may be involved, this may go up for many years from here (there is a possibility that the COVID low was of supercycle degree).
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