Clarifying the count from the last update. Wave 2 isn't behind us, it's still unfolding. The ABC into 2,516 was part of it, and the chop since, the pullback to 2,654 after failing to hold above 2,716, is still the same corrective wave, not a failed attempt at wave 3.
Gate one, structure, still holds. Wave 1 of the larger degree completed near 2,820, and everything since has stayed corrective in character, lower highs inside the range, no impulsive push back through 2,743 with conviction.
Gate two, the zone, is the whole 2,400-2,743 band right now, not a single point. That's the zone wave 2 is working through, and it's normal for a wave 2 to take its time chopping through a range like this rather than resolving in one clean leg.
Gate three, the trigger, is NOT confirmed, and won't be until wave 2 actually finishes. What confirms that is a break back above 2,743 with real follow-through, the kind of move that would mark wave 3 starting rather than another failed poke at resistance. What invalidates the count is a close back below 2,350, which would mean this wasn't a corrective wave 2 at all.
Corrective phases don't announce when they're done. They just eventually stop making lower highs, and that's the tell being watched for here, not a price target.
