Overall Wave Structure (2016–2025):
Wave 1 (or Sub-Wave Extension, 2016–2018): From ~4,266 (Feb 2016 trough) to ~8,109 (Sep 2018 peak). This is often labelled as an impulsive advance, subdivided into five smaller waves, driven by post-financial crisis recovery and tech innovation.
Wave 2 (Correction, Late 2018): A sharp 3-wave (A-B-C) zigzag down to ~6,190,...
