Major Wave iv
Subwave c (brown) continued to go down this past week, thus lengthening Major Wave iv (blue). If this continues next week, Major Wave iv (blue) would descend below the green horizontal line which marks the top of Major Wave i (blue). It is an Elliott Wave Principle rule that a fourth wave cannot enter into the territory of a first wave, unless the structure is a diagonal. Major Wave v (blue) will form upwards regardless of whether it starts before or after Major Wave iv crosses the green line. And it will rise above the top of Major Wave iii (blue) which is at 3652 to form a new high since late 2007.