Good morning

In my update 2 weeks ago I wrote that we potentially completed wave iv of the diagonal, things look pretty good as of now - it appears an impulse formed from the lows, with a perfect backtest of the (potential) diagonal trendline as follows :

Let us take a closer look at the recent price action, I do think the correction after the initial impulse is still in progress :

The idea is that the impulse completed at ~0,556 and since then we have been in a running correction, an abc with the (c) wave taking the form of a diagonal, the 4th wave of that diagonal is still in progress and when completed we should print a final zigzag to complete the correction. Take notice that the 5th wave will have to stay shorter then the 3rd to keep the extracting nature of this diagonal. When the diagonal completes we should see a sharp reversal in the upward direction with new highs. I assume the initial upside was a 1st wave, and we have to expect at least a 1,618 extention for the 3rd wave.

We will have to see if the price action confirms this idea in the next couple of hours/days. 

In regards to the big picture nothing has changed, the idea is that the iv-th wave of the diagonal completed and wave (v) should gives us a higher high. When that diagonal completes we will most likely see a longer correction in time & price, it's after that correction that markets could become even more bullish.

I hope this helps, check for additional updates on my X account

Thanks for checking.

Yours,