The clear break back above the S/H/S neckline has invalidated this formation, but then what's going on here?
We know that the rally from 1,180.20 is corrective (in three waves) so we haven't begun any new impulsive rally higher. So that leave us with a only the option of this correction becoming more complex. I will be looking for some kind of zig-zag rally higher, but in a wave four triangle, which will likely cause a top near 1,400 in wave c before lower in wave d.
If the triangle Count is correct we could be in holding pattern for many weeks to come.
Keeps move lower and we likely only need one last decline closer to 99.88, before the correction from 112.22 is finally over and the final impulsive rally higher towards 116.25 and possibly even higher towards 126.29 if wave 5 extends.
The only demand I have to this decline is, that it does not break below the top of wave 1 at 97.36.
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