(Click at the pictures to enlarge)I still favor that the top on August 28 at 9,630.20 ended wave [B] from March. From 9,630.20 we have seen minor wave i down to 9,262.46 and minor wave ii most likly finished yesterday with the test of 9,560.17. From 9,560.17 we have seen minor [i] down to 9,497.19 and minor wave [ii] most likely finished yesterday retracing just above the Fibonacci retracement at 76.4% of the fall from 9,630.20 to 9,497.19. Wave [ii] can retrace up to 99.9% of wave [i], but if it retraces more than 76.4% of wave [i] odds normaly favor a new high above wave [i] risking a move back to 9,630,20.
Minor resistance at 9,555 should now containe any upmove for a break below 9,535.89 and more importantly the bottom of wave b at 9,517.75, which will call for a strong downmove to at least 9,430.
Any break above 9,555 will endanger the minor wave ii top at 9,577.22 and most likely also the August 28 top at 9,630.20 for a move closer to 9,653.95 (wave iv of 3).
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