Extended wave 5:

Wave 5.i 1058.0 to 1256.0 +198 +18.7%
Wave 5.ii 1256.0 to 1157.0 - 99 - 7.9%
Wave 5.iii 1157.0 to 1421.0 +264 +22.8%
Wave 5.iv 1421.0 to 1337.5 -83.5 - 5.9%
Wave 5.v 1337.5 to 1642.0 +305 +22.8% (forecast – assumes the same % gain as 5.iii)
Total 5 1058.0 to 1642.0 +584 +55.2%

If we assume that 5.v is an average of the 5.i and 5.iii gains of 18.7% and 22.8%, say 20%, the target for 5.v would be $1604. One further possibility is that the gain in wave 5 equals the overall gain in waves 1 through 3, i.e. $1212.5 from $712.5 = $500. This provides a target of $1058 + $500 = $1558.

This concludes the end of intermediate wave I of Major Three. The decline to follow the peak of wave I, (the peak being somewhere between $1558 and $1642), should be of a magnitude of between 16% to 22%.

I think that we can conclude that your $1650 forecast will come close to achievement during the up-move which should start this week.

Best wishes,
Alf Fields