SUMMARY
The Mid Day Update had shown the potential for a brief peak at $11,170 over the upper white channel line or a a larger one towards $11,466. Price temporarily pierced the upper channel and promptly returned back inside.
If the count towards $11,466 is to be sustained, price can't decline below $10,885 because that would invalidate the impulse since Wave 4 would overlap with the peak of 1. That would break one of the three major rules of Elliott Wave labeling.
The wedge pattern outlined by the blue lines is very uncanny. The current price decline also fits the type of a wedge breakdown. IF this continues and matures; then likely the larger degree wave 4 will be in progress towards the lower line of the channel.
Keeping this in mind and into awareness:
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