This would be the alternate to obvious impulsive 5 waves where waves 1 and 4 are not supposed to be overlapping.
This spike was quite strong and it still respects the elliott wave rules.
However , there could be a diagonal forming to end it.
Ending diagonals that contract are Gods gift, simply because every incoming wave needs to be smaller than the previous one.
Which gives us more precision when it comes to setting our entries and stops