Using Fib time analysis, we run into problems with what would appear to be our 4th wave of a completed structure. The problem being that the 4th wave has not satisfied the minimum time requirements - the 4th wave would have needed to finish around August 6th to meet the minimum duration. Therefore, the 4th wave has just finished or has not finished yet.
This leaves us with two possibilities in my opinion. Either the impulse began on June 27th, or the impulse began on July 16th. If the impulse began on July 16th, then the 4th wave has completed with a running flat and we are heading up for the 5th now. If it began on June 27th, we are trading inside of a prolonged 4th wave, but is more proportional. Both of which would imply a fourth wave, followed by a 5th wave up before any macro corrective structure.
This leaves us with two possibilities in my opinion. Either the impulse began on June 27th, or the impulse began on July 16th. If the impulse began on July 16th, then the 4th wave has completed with a running flat and we are heading up for the 5th now. If it began on June 27th, we are trading inside of a prolonged 4th wave, but is more proportional. Both of which would imply a fourth wave, followed by a 5th wave up before any macro corrective structure.
