Wave 1 - 5 polywaves - Oct11 to Nov27 - 1454 points down
Wave 2 - 3 abc corrective waves - Nov27 to Dec11 - 1036 points up
Wave 3 - 5 polywaves - Dec11 to Jan22 - 2135 points down
Wave 4 - Triangle abcde 5 waves - Jan22 to Feb28 - trianlge often occurs in wave 4 and according to Elliot it has got to be no more than 5 waves. The waves are progressively smaller than the previous ones and wave e can protrude a bit. The triangle has already been broken out and completed. The target of wave e is minimum 0.75 of the widest one which is wave b in the triangle and the target should have been 12996, not quite reached but EMA 89 is the limiting band as you can see. So wave 4 was 1111 points up.
Wave 5 - Feb28 - can be a mono or poly wave but has already started and at this point the low of Jan22 is expected to be retested. It should be shorter than wave 3 but a thousand points down is not surprising.
Calling on all ewavers to comment
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