It seems nobody think the current wave up is the last lag of the large wave 4(or big wave B) with a complex double flats from Oct 08 low to Apr 17. 09 High.
Here is the way to label it using labels in the chart from Elliott Wave Index Trader: green 4 should be a, red 5 should be b and green a should be c of 1st flat w( notice a=c in W), and then green b should be X, and then green c should be a, red 5 should be b( green d should be small a and red 4 should be small b), and then red a should be c of flat Y( notice a=c in Y). So the WXY flat wave is actually wave 4, with wave 5 next to be expexted as a extended wave 5 because it takes a long time to finish wave 4.
or this WXY flat is wave B with the red 1 to red 3 as big wave A, therefore the next should be wave C which will be 5 waves down and last longer than wave A, wave A lasted 12 months compared to wave B lasted 6 months( notice wave B =0.5 wave A in time). so wave C should last at least 12 months (if A=C in time) or 18 months( if C=1.5 A).
