Subwave i
The uptrend has topped and I have labelled the wave as Subwave i (brown). While the probability is high that we have an uptrend, the current wave could still be part of the long sideways movement since March, as is apparent in the chart. The uptrend will be confirmed if the wave continues downwards somewhat to form Subwave ii, followed by a steep uptrending Subwave iii, rising higher than the top of Subwave i. We have to be patient, but Subwave i, if correct, gives hope.