The last remaining logical point for wave V to start and revive the up trend is wave IV level. The point of no return.
There's a high probability that beyond this level we will only correct more, the up trend will be broken at 9000 where wave IV enters the territory of wave I. And our next target will be 6000 bottom.
We're in WXY structure because it consists of 3-3-3 waves, not 5-3-5 waves. It was established at 10250 where 1-2-3-4-5 count for possible wave A was invalidated.
Basically, W, Y are upper level container waves that can be any 3-wave structure or contain other nested container waves wxy, wxyxz within themselves. But they can not consist of 5 waves - that's reserved for A,C.
X is a failed trend impulse, a 3-wave structure. It's called "failed' because waves 4 and 5 fail to start/invalidate.
W = 3-3-3 wxy or 5-3-5 or 3-3-5 flat (it is possible for wave W to contain 5 subwaves of a indirectly, because has 3 waves)
X = 5-3-5 ,
Y = 3-3-3-3-3 wxyxz or 3-3-3-3-3 abcde triangle or 5-3-5-3-5 abcde
A, C are 5-wave structures that can only contain other , not wxy. In certain cases A can consist of 3 waves (3-3-5 flat, 3-3-3-3-3 abcde triangle). C is always 5 waves.
B is a 3-wave correction. B can also contain , not wxy.
When C > 1.618 of A the correction becomes a trend 1-2-3.
Please don't trade based on my analysis only. In certain extreme cases it may lead to bankruptcy and 2nd mortgage. I'm not responsible for your losses.