On the “last leg of the B-Wave is still coming” charts that you have seen me post already, I’ve been considering the D-wave to be here, with us now. But I’m going to modify that based off of the look of the structure here as a whole, and what I’m seeing works best for other world indices.
That modification moves the D-wave behind us. The basic motion remains unchanged: both would produce a strong decline, but there is one difference that makes a big difference.
If, as pictured below, the intermediate (orange) D is behind us, then we’ve completed two legs of the three legs needed for E. That means from here, we need just the minor (green) C and that will be a single five-wave decline.
On the prior look, if we’re topping out in D now, the move from here to E will be in 3 waves. One reason I prefer the “D is already in” count is the trend line touches. If we’re finishing D now (or soon), we will need to go higher than I think we will be able to.
So, it’s a minor point, but if I’m right, it will be helpful to have this in mind if we get the decline I am looking for.
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