After we reach the pinnacle of wave 3 primary - 5th cycle - presumable ;
Wave 4 A-B EW Cycle correction (or completion A-B-C of wave 4 primary correction) support should hold at the .764 fib line. It also possible we see further retracement after a substantial bounce (B) at .764 fib line before falling to a ending C zag-zig-zag ratrace at 144.33 / .618 Fibonacci level.
When will the US Debt Ceiling Debate heat up? mid to end of September with October 1st the deadline
Debt Ceiling Deadline Pushed Back as Growth Lifts U.S.
The U.S. Treasury Department may have more time than economists previously estimated before the government’s debt limit is reached as changes in tax policy and an economic rebound boost federal revenue.
The date the nation hits the ceiling on borrowing could be pushed back as far as mid-September to Sept. 30 from a previous estimate of late August to mid-September
A later deadline would give Congress more time to debate lifting the cap and postpone any vote until after the August recess. President Barack Obama in February signed legislation suspending the $16.4 trillion debt limit through May 18. The Treasury uses so-called extraordinary measures to push the deadline further.
Treasury Secretary Jacob J. Lew said last week Congress should “extend the debt limit to remove any uncertainty” and declined to estimate when the ceiling would be reached.