Today I have attached the wave count I sent to you on the 9th August. You will see the 4th wave just about hit the 38.20% Fibonacci level yesterday morning at the open and we have since fallen back. We have also broken below 5070 yesterday and closed below this level which indicates once wave 4 is complete we will see a final 5th wave down to 4600 or lower to complete this pattern. What is not clear is whether we have completed wave 4. I have also attached a shorter time frame chart and you will see wave 4 looks to be tracing out an ABC pattern which is correctional and would indicate some short term higher prices (as high as 5450) before we begin the final 5th wave.
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