I made a grave mistake by having the long correction period between early May and July as a Minor B when the length of time should have had it labeled as an Intermediate degree (likely (X) wave). I knew this in my mind at one point but got lazy.
The financials have really just been limping along on this latest Minor C wave rally as a laggard. As you can see, they appear to have one more peak that is due. Maybe they have a blowoff top and go high above the upper trendline. Maybe they truncate. Either way look for that last up wave.
Do you see the lower rising trendline from the March low? Hugging this line just looks bearish. Financials have always been the bear leading sector since the 2007 time frame. That should not change. They may be the first sector to "cliff dive" from the rising trendline and lead the market lower.
Its only fitting that the government guarantee of the money markets runs out near the peak of a major rally. Somehow I think the two are connected.
I have the whole formation labeled as a triple zigzag. It could also count just as well as a double too. Both imply basically the same thing, except the market is limited to three Intermediate (red labels) zigzags maximum for P2.