We have most likely seen the low of wave e of the major red wave 4 triangle and if this is the case we should soon see a powerful thrust out of the triangle towards the upside. The ideal target for the final red wave 5 is at 107.70, where red wave 5 will be 38.2% of the distance traveled from the bottom of red wave 1 to the top of red wave 3 added to the bottom of red wave 4.
To confirm that wave e did finish at 97.11 we need a break above 98.30 and more importantly a break above 99.13, which would call for the next impulsive rally higher towards 107.70.
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