1.7 points on September 25 saved market, so my primary count is still valid.
I label 1080 high as (b) of Expanded Flat wave [4], so it looks more consistent with wave [2] from both proportion and time duration perspectives. Also wave [2] is ZigZag and wave [4] is Flat, based on EW Guideline "wave 4 will almost always be a different corrective pattern than wave 2".
Today's high 1069.62 is Minuette (i) up of the Minute wave [5], and it has a clear small Subminuette 5 waves up from September 25 low 1041.17. We are now in Minuette wave (ii) or maybe (iii) up already. Minuette wave (iii) through (v) will carry the index to new high over the next week or two. Once we reach Minuette (iii) top, we can get more clues on the final target high for (Y). A break below 1039.47 (9630.20 in Dow) will force me to eliminate my primary count.
The alternative count (EWI's primary count):
We topped at 1080.15 on September 23. We finished Minuette (i) impulsive down at 1041.17, and we are in Minuette (ii) corrective up now. A break above today's high 1069.62 will jeopardize this alternative count.
BTW, EWI has an Expanded Flat as Minuette (ii) up. The problem for this count is:
a of (ii) = 1053.47 - 1045.85 = 7.62
c of (ii) = 1069.62 - 1041.17 = 28.45 > 2.618 * 7.62
Wave a of (ii) looks like too small, comparing with c of (ii).
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