Is the wave 2 rally done or do we need one more rally closer to the 4,883 - 4,885 area before wave 2 is finally done?
One could make a case of the final wave 5 of C being a Ending Diagonal, but if this is the case, then the E-legg became a truncated top (lower top than the C-legg), this is a very early call for that. Therefore I do favor one more rally higher towards the 4,883 - 4,885 area to marke the final high a the finish of wave c of 2.
Only a direct break below 4,731 will confirm that wave C finished at 4,849.20.
No matter which count is correct I would not fight hard to squeeze the last percent out of this market. I would just sell out here and even concider selling short at this time.
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