Been a while but looks like wave 5 wanted to continue running and take out the all time high. It was easier just to watch this than to try to figure out the end of wave 5 of this five wave move off the March 2020 low.
The only projection I'll put out there if this decides to run higher is, what level wave 5, as labeled here will equal wave 3. This projects to 3693.xx.
Per EW rule, wave 3 cannot be the shortest wave. Given that wave 3 is shorter than wave 1, wave 5 therefore cannot be longer than wave 3.
Are there enough sub-waves in place to consider wave 5 complete? Indeed. Will I try to count it? Sorry. No. Too tired and will just let the market signal the end, otherwise, I'll keep an eye on that 3693 level.
If wave 5 continues to climb and does not end there, a more bullish option may be playing out. I won't present that yet until a break above 3794 is cleared.
GL
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