Below is the count that was presented, and actually counted wave-for-wave in the real time chat room this morning, including the truncation of the vth wave of (c) of z of 4 - which was called a very real potential on Friday - and made me conclude the down turn was likely over.
|SP500 15-Minute Chart - Likely Ending Diagonal in Minor 5|
I have abandoned the impulse labels because of the overlap of Y of iv with the B wave up (circle B) of the compound flat correction for the blue (b) wave down that was initially called the end of wave ii in a now defunct impulse count.
I do not think a "longer" fourth wave (i.e. longer Minor 4) is occurring as some have suggested because the count to Minor 4 was w-x-y-x-z; and that count is always terminal. It ended at the proper moment, and the z wave, which is prone to show truncation, did, in fact, truncate. You can't ask for more perfection from the wave principle than that.
So, if a diagonal occurs properly, it will "likely" terminate Minor 5 upward, but it could take days of "grinding", yet. That's fine with me. Still a diagonal must occur with very specific rules and so we will keep you posted should something not work out correctly.
Cheers and enjoy the chart.