If the "e" is also a triangle, then taking the end of wave "e" as 1960, the post-triangle thrust for wave 5 should end below the 1833.5 low of wave 3, which is appropriate for a 5th wave.
- Wave "d" was the decline from 1993.6 to 1930.2. This is technically more satisfying as an ABC corrective structure, the archetype for a "D" wave. It also precludes a wave count where the "e" wave falls below wave "d", which did seem a little peculiar in the previous count.
- The final wave "e" is still developing as a triangle in and of itself, as suggested before, but the technical structure of it is also more satisfying when relabeling it as a result of the shift in wave count for "d" described above:
- Thereafter, the rally to 1965.2 was wave "(a)" of "e".
Note: this is the longest wave of the "e" triangle structure, (i.e. therefore the length of "e") and is exactly 0.382 the length of wave "c" of the greater 4th wave triangle, which is significant and inspires confidence in this count.
- Then the decline to 1938.6 was wave "(b)" of "e"
- The present rally is wave "(c)" of "e", or the first leg of it, as long as it does not exceed (a) at 1965.2.
It is also conceivable that the whole 3-wave rally from 1930.2 has just been wave (a) of "e" so far, so I will leave that as an alternate count to consider.
That fact lends credence to the view that it was the "B" of an "ABC" wave, which therefore suggests that this "ABC" from 1930.2 to 1975.4 was, summarily, the wave (a) of "e" as was also suggested by the alternate count in the chart immediately above from earlier today.
We are seeing further narrowing since 1975.4, as would be expected, and I have gone ahead and placed labels for (b), (c), (d), and (e) of "e" -- tentatively. There is still the chance that it may not be this simple and wave (b) of "e" is still developing.
In any case, it does looks like this 4th wave triangle is very near to reaching its conclusion.