One of the tricky things regarding the employment of Elliot waves is how one views the scaling with respect to the wave magnitude. Super-positioning of the waves gives us the overall behavior, it's no different than reading the waves on a beach which are fractal like. Because of this I keep seeing big waves and we just reached the trough of the first wave. Don't forget the overall trend is up and because of this we can make the conjecture that what we are seeing is what is called a phase transition in statistical mechanics. My question is where will the mid-point and equilibrium positions be?