With the new high on the RSI the current wave structure appears to be a make the case its likely the end to a 3rd wave of an impulse wave from 6954. So the preferred idea is to see a pullback for wave [v] as shown, followed by further upside to end an impulse wave (5 wave advance) from 6954.

It would need a big move under 7150 to be an issue for the current idea, but from what I can see, there appears to be a down-up sequence missing to develop a 9 swing advance from 6854 (9 swings suggests an extended wave, in this case its wave [iii], as that subdivides into 5 smaller waves).

A common target for a 3rd wave is a 2.618 extension of wave 1, in this case its now hit that area, so its at a band of resistance to suggest wave [iii] is close to ending and setting up for a pullback for wave [iv]. The bigger picture ideas are reserved for members, but based on the structure I still like to idea of a potential major top setting up, once this suspected impulse wave ends from 6954.

I actually thought the advance ended at the Jun 2018 highs, so this new high supports an alt idea we have been tracking.

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