Update: 22nd March:
The present support can be the end of Minor wave 2 of Intermediate wave (3) as generally accepted, or this can be Minor wave a of Intermediate wave (2) with end of month target at the lower channel boundary and the end of the previous lower order (Minor) wave 4 price.
The 15 minute chart below shows that the unexpected move up into another minute 5th wave caused the need to recount the internals of minute wave [iii] and learn from the deception. The upward behaviour appeared forced and driven by unnatural market intervention.
Update: 20th March:
A closer look at the last wave shows the extended wave [v] of Minor wave 5 and the commence of the correction of Intermediate wave (1) with typical target being 4.
Previous: 15th March:
This chart of the the S&P500 is preferred because it the least demanding, the most simple and thereby quite compelling. Unfortunately it appears to be a minority view.
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