new preferred scenario: y wave is always in progress, close to a top of wave [w] with a double zig-zag w-x-y-x-z ;
first alternate scenario: the market is close to a top of minor degree (alt:[y] of Alt y of Alt y);
second alternate scenario (not shown): 2°Alt:[3] of 2°Alt:c of an upward zig-zag of minor degree.
The level of a possible top is 1493 where there is the Fibonacci price projection of y = ( 100 * w + x )
Have a great trading day...with care!
ElwaveSurfer
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