This pair completed a month-long 3rd wave {iii} advance on the 6th of November high and is now retracing on wave {iv} correction of equivalent duration. Setup for shorts on a wave (c) of a, targeting a lower low.
Potential short setup on retracement near 1930, going for a lower low.
Its most likely making a major corrective advance wave b since the low of March 2009, and yet again, in terms of wave fractal, doing an on going minor corrective advance wave b since March 2020 low
From longer-term chart, 20th of march low was designated as wave b and a multi-months wave c is expected from there. However, wave count has been nothing more than corrective in structure and therefore a 3-3-3-3-3 expanding diagonal wave c is forming. Present fractal formation of minor expanding diagonal c waves further confirms the validity of this wave count.
A wave c of an a-b-c irregular flat correction (4) is developing from the 20th of March low, most likely an expanding diagonal wave c.