Wave one and five are often similar in duration in general. In this case, I would be cautious by late September (42 weeks).
It seems we are in the early stages of wave (1). I expect strength as wave 3 unfolds in the coming weeks. We only have three impulse waves to work with ((1), (3), (5)) so it should be quite volatile I would imagine in order to meet the 80K+ target
Here is a weekly chart. I find it not as distracting as the daily. The green area is where the market is finding natural support which is at the previous wave 4 of one lesser degree (see small arrow). The C wave seems to be ending around these levels.
The situation now is similar to what happened during the cycle I in 2013. At the time, primary 4 retraced more than 78.6% of primary wave 3 at the start of its correction (triangle). We now have it in reverse with the deepest retracement occuring at the end of a WXY correction. History repeating...
Market finds support in the previous fourth wave of one lesser degree. I wasn't expecting the correction to be this deep for the primary wave four (>78.6%). Primary 2 was deep so primary 4 should be shallow (alternation) but in this case both 2 and 4 were deep corrections.
I've also adjusted the B wave triangle (larger duration)
market found support at the A-C trendline hopefully the zigzag has completed
e-waves often under-shoot or over-shoot the A-C trendline. if it does over-shoot it must not exceed C
cycle III target adjusted to 89,000 on Feb 5 2019 (the channel depends on where the E wave/primary 4 ends)
im also reducing the triangle's thrust target to 25,000 due to wave (E) price action
This is my other wave count of wave (E). No diagonal C wave here.
Please note wave E must be a zigzag so there isn't many options to choose from. The structure is 5 waves down, 3 waves up, another 5 down (5-3-5)