Thus this virgin wave space may mark the approximate middle of Minor 5 of (C) up
On Monday I was sure we were due for a breakdown of this (false) virgin wave space in at least a Minute [ii] of Minor 5 pullback. http://1.bp.blogspot.com/-GBc49lQY1gs/TZDto7-EXwI/AAAAAAAAI78/w3g3C9gzlQw/s1600/spx30.png The end of the post stated the one caveat of course "This depends on the virgin wave space shown breaking down."
So what happened today? The market dove at the open to this exact support spot and thus the open wave space or "blue box area" was untraced on both the Wilshire5000 and SPX. It was indeed your "dip buy" spot as I suggested Friday. So today's wave action strongly supports the notion of Minor 5 to new highs.
This could also further suggest that Minor 5 is not messing around and is heading straight toward its peak in a quicker fashion than anyone anticipates.
Note the blue box area on Minor 5. If this holds true, we are projecting a Minor 5 peak just about or slightly above where (C) = .618(A). Note: The Wilshire seems to have a false print Minor 4 price low. My Fib is placed at the correct spot.