Since my last post on 7/20, I mentioned that we should pay attention to option 2 should support at 2954 fail. The ED option is still viable with the recent breakdown considered a throw-under, which would result in one final push up in a throw-over. The other bullish option is the nested 1-ii (i)-(ii). The invalidation point for ED or the nested i-ii option is highlighted at 2728.81.
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However, the expanding triangle I have now included as option 3 may support option 2, which implies further downside to come.
All this volatility as of late would fit perfect into this back-n-forth wave action. The next couple sessions will be telling.
Place your bets.
