Well, as we suspected the wave (b) triangle is expanding. Based on where this market is currently, our updated wave (b) triangle looks like:
-a- = 45.95;
-b- = 49.14;
-c- = 46.74, if complete;
-d- rally is now.
For this triangle formation to remain valid wave -d- cannot rally above 49.14. It could still be possible that all of the overlapping wave action since the wave -a- low of 45.95, could all be part of just wave -b-.