I wouldn't be doing any readers justice if I didn't point out some of the other alternate counts. The top alternate is that today was a 5 wave move down and that is the front half of a 5-3-5 zig zag to my B wave low. My chart would show the basic form. That move would enable the lower 920-923 gap to close and backtest 914 breakout support. Its very a valid potential and maybe I should have had it as my top count.
However, the problem with this is that the NASDAQ had overlapping waves (i) and (iv) so it doesn't count well unless you consider it a leading diagonal of some kind but it doesn't really look like one.
But we'll see. Corrective waves can be a bitch to predict. I like 923 as a B wave low. I can also live with a 914 B wave low. Anything under that supports the notion of 949 as a significant top for a while.
Whic of course brings us to our second alternate is that the big triangle breakout only had ONE 5 wave move up left in it as a part of a C wave post-triangle move (which would alter the whole count from bottom slightly).
That would imply that the 5 wave move up is over and the near term peak is in and a decent decline is on the way. Maybe even P2 top. There is strong evidence that a whole bunch of markets are going to correct at once as I said in a previous post.
So to review: Overall I am satisfied with my reasoning that another 5 wave move to P2 peak should occur after a Minor B wave plays out. My primary count has the B wave ending today at 923.85 as I showed in my daily update. My top alternate count is this chart I just posted in that the B wave ends at about 914 SPX and backtests that support successfully.
The very bearish alternate count has P2 topping at 949 and the market is starting to trace out bearish 5 wave impulse moves down.