$JSECFR - Richemont: Recent Outlook Invalidated, Now What?

The outlook shared 14.07.2023 did not survive market forces, link below.

The bigger picture remains intact but wave 4 is making a more complex and deeper wave structure.
Waves ((w-x)) both unfolded as simple zigzags and wave ((y)) is in its early stages.

Market momentum is still to the upside and this is a correction of a larger uptrend.

I remain bullish but will sit on my hands until the corrective structure looks more complete.