Looking at CP a little closer, it might be better to start the drop in early Oct. of 2015. If we do that it would imply that we are now in wave 4 and not already in wave 2. That is a change in degree that may, or may not, prove to be correct. In any event we should not have to wait very long.
Waves 2 and 4 in this labelling alternate nicely as 2 is an irregular flat and 4 a zig-zag. Right now we are pretty close to the 50% retracement of 3, or 1 and 3, and are essentially on the parallel upper trend line. At about $200 we will have overlap that would negate this count. So basically you have the potential of another $8 up against $52 ($192-$140) down as a minimum. These are already very attractive odds that may just get slightly better in the next few days. Note also that the RSI is now , for the first time in more than a year and a half, back in overbought territory. The 5th wave down should take anywhere between just a month or two or about six months. There are options on this stock.
If the other count, that is where this is a wave 2 up, is correct, the overlap is not an issue and the stock can rise to $200 or even higher. We should know soon enough what applies.