Still Using the analysis since the 2011 low in this update, the most likely options to look for in the long-term are a 5-wave advance higher since (A) to complete a 5th wave of some degree or a sideways correction underway since [3]. The structure of the former option is problematic in the wave 5 region as an impulse from 4 to [iii] is required. The latter option has no structural problems, but the size of the wave [4] correction is small and should expand in price territory so it can be paired with [2] as a 4th wave. These two possibilities stand apart from the remaining ways of describing an impulse higher since [2] by a wide margin.
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