SUMMARY
If we stay with the impulse count as shown below where circled white wave 4 is complete and circled white wave 5 is in progress; then it would probably look like the below chart. The blue waves show the subwaves of wave (3). This means that blue wave 3 needs to put in a higher high without wasting any time. That higher high would be above $9,750 or so.
The alternate count is still that upward pointing wedge which is labeled as abcde. The last wave e needs to be placed; so expect a bounce towards $9,700. IF there is a higher high; then probable pathway leans towards the impulse scenario. IF there is a lower high; then the ABC red looks likely. To these, I would give a 50:50 outlook as both being equal in probability. The only thing I don't like about the ABC scenario is the time proportion compared to the prior waves. It would make sense if circled wave 3 was actually a circled wave 5; but that's another scenario I won't discuss here.
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