Good morning

Not much is new, in my previous update at the end of August I was looking for a low inside the Golden Box® for completion of a potential fourth wave of an expanding diagonal - a few days later we printed a low inside that box, but the reaction from that low was weak and yesterday we printed a lower low. Most important for now is that we did not go below the July 13th low (wave ii), this means that the potential of a diagonal remains valid. If you want to know where the Golden Box® idea comes from you have to check my previous updates, but it has to do with the rules of a expanding diagonal.

The (potential) fourth wave is a complex affair, I have it now as a double zigzag, and additional zigzag remains possible - but if the fourth wave really completed I would like to see more strength, in case we are dealing with a fifth wave it will probably overthrow the trendline - it should take more time & price then wave 3.  That means that it is supposed to end after September 24th.  As stated before this structure can also be a triple zigzag for a higher degree X in a bearish scenario.

But if we assume that the expanding diagonal is indeed the correct count we know that it will finish after September 24th and it will be followed by a correction - that correction does not have to take much time/price though, but it could.

So if we fit the current expanding diagonal in the big picture it gives us a bit of a timing issue... because the current diagonal cannot end before September 24th, and that bigger diagonal must end before early October. The conclusion is that there will be an enormous moon move at the of September..... If that move does not come then something else is going on. 

I think we have to concentrate on the current diagonal first, if we indeed get our fifth wave here & now, that wave will break over the declining trendline, that would certainly be a positive sign.  The expanding diagonal in the big picture should have completed before October 3rd, and that is honestly a kinda unlikely scenario. So if it does not happen I can see 2 options : the current bounce is a bearish triple zigzag and will be followed by a lower low OR the initial advance ended in April 2021 (as an expanding diagonal, this count is not shown on the chart as of now), and everything since then has been a correction.

The rest of September will hopefully be an exciting time, the charts looks promising.

That's all for now.

Take care!