On the Wilshire we squeaked a new high which means we have again reached a point where it could possibly be a complete wave count. However it doesn't "look right" necessarily so we give the market and the wave count the benefit of the doubt. The MM's smartly closed the SPX gap up today so you got to think we ain't done yet.
Primary count is that Minute [v] of Minor 5 has started. Again I tweaked the intraday squiggle counts as we go along here to try and make sense of things.
But from a simpler perspective, the Wilshire hourly shows an (a)(b)(c) sideways flat for Minute [iv] of Minor 5 and that may be the entire corrective. We cannot expect the market to continue sideways forever in this tight range if we project this wave [iv] to be of Minute size. But if it needs another day or so, we need patience with the wave count and structure. The main point is that major support has held.
The premise of this chart is wave (C) would trace about .618 of wave (A) in both price and time. A very powerful and typical Fibonacci connection.