"According to the wave structure, a subwave three seems to be in progress. Therefore, if the market opens with a gap-up, it's probable that the 3rd wave will likely continue. Once the 3rd wave completes around (SZ or 48389), the 4th wave might undergo a minor correction ranging from 23 to 38%. This correction is also applicable in the case of an initial market decline. This represents the basic structure. However, if the correction breaches the 38% Fibonacci level, it might extend to the 50 to 78% Fibonacci level."