Subwave 5
The wave count has been adjusted by moving the bottom of Subwave 4 to the right. This eliminates Little Waves a and b, resulting in a cleaner count, without affecting the overall count of the structure. We now have Subwave 5 (brown) in progress, which as said before would have a 5-3-5 structure. With this week’s development it looks like Minor Wave 3 (black) is extended and completed. Minor Wave 4 (black) could be completed but we have to wait and see. Minor Wave 5 could form next week and would complete the first branch of Subwave 5. The count shown in the chart is tentative. As I mentioned before, counting corrective waves can be frustrating, as they tend to morph before settling down.