After that, the correction.
And here I stay honest with you: I read it as wave 4, but it could also be wave A, so I have marked it as 4/A. The structure will confirm which one soon enough.
The last leg up ran from $4300 to $4500, and yesterday price tapped the 61.8% level, a move that is very typical for corrective waves. That fits the picture perfectly.
Either way, the trend is up and the channel is holding. A correction like this is not a warning, it is the market catching its balance before the next decision.
I will map the next move for my students the moment it confirms.
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