We have 5 waves down from the SPX peak. Is it the start of a major wave down or merely wave c of a 3-3-5 expanded flat of wave (iv) of [v] of 5 as is labeled in the SPX hourly chart below? Well, we do have a positive divergence suggesting a bounce. Will the bounce be merely a retrace of the decline from peak or will there be new market highs in a final wave (v) of [v] of 5 as this blog has been suggesting for many weeks?
Its getting interesting again!
However its still holding major support. But it is this Wilshire chart that makes it somewhat suspect for a final wave up. Yet even so, it has not yet technically violated its wave (i) peak (barely).