Wednesday’s trade did finally give me enough information to label the ‘internals’ for minute wave 4. Thus far it appears to have formed a double a-b-c structure. I’ve updated The Elliott labeling to reflect minute wave 4 completing at today’s low at 4492. While there remains the possibility that wave 4 still has more to go in the way of a triple a-b-c structure, but for now I’m giving the benefit of the doubt to wave 4 being complete. As it stands today, I continue to expect a minute 5th wave advance to move prices to new highs above 4549.50 and also above 4600.
September 8, 2021