If March 2005 was the end of wave 1, then June 2006 would have to be ABC. I multiplied A by 1.618 and came up with almost the exact length of C. If this is true, then that long arm from June 2006 to February is Wave 1 and we are now in Wave 2. This means the next leg up will be massive. In Wave 1 and Wave 2, there is usually massive put buying. We are seeing that now. If stockcharts.com would go back about 3 or more years then I could identify more cycles and say which way I am thinking more matter of factly. If the arm from June until February is Wave 5, then we would not have seen so many doubters of the trend. In a Wave 2, there is going to be a lot of fear and chop. Wave 3 should be a massive move.
I use swing size to determine Elliott Waves...must be 1:1 of or more of past retracements in trend to establish EW swing. Therefore, unless this retracement goes at least to 1354(107+ pts) we're still in a 5th wave & have more up
Under EW rules wave 3 can not be the shortest wave so your wave 5 has very limited upside if any on that count...
Again you might want to do a re take on that wave 3.. You have overlaps the WIII of W3 is the shortest wave again