Wave 2 of 3 is ongoing. The best micro-count (see the hourly chart below) tells us, that wave 2 is an expanded flat (wave B ended below the beginning of wave A). Wave C should now be underway. Ideally wave C of 2 ends near the 134.10 - 134.21 area, but as I have stressed a couple of times. We are now in wave 3, which normally is the strongest and most powerful of the impulsive waves, therefore the corrections tend to be sub-normal.When wave 2 is done we should see wave 3 down to at least 128.32, but I wouldn't be surprised if wave 3 extends down to 124.67.
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