$Microsoft(MSFT.US) Objective discussion (personal view only, don't flame). The preceding Elliott (1-5) waves are the subdivided 5 waves within the macro large wave 3, immediately followed by a sideways correction of large wave 4, evolving into a head-and-shoulders pattern, composed of sub-waves A/B/C. According to the theory, the height of wave C is 1.618 times that of wave A, and only after completing the peak surge will the entire large wave 4 be fully completed, after which large wave 5 will follow.