What you have labeled as a 3rd wave *dark blue* can not be a third wave
because it is obviously NOT impulsive which is the Key Marker of a 3rd wave.
3rds are always the most impulsive - almost parabolic - in their nature and never be
so overlapping in any area of the wave subdivision.
Thus, I suspect price action, while ready to rally, will be much more corrective
in the near future.
If you know of an example I'd be most interested in studying the chart
Thanks for your thoughts !