So if our scenario is correct, we finished wave 1 of 3 of A a couple of days ago. This morning we have either completed wave 2 – a simple a-b-c – and should start dropping rapidly in wave 3 of 3, or this correction is going to become more complex (as shown), for instance by tracing out a double zig-zag for wave 2, just like the larger degree wave 2 ending on the 27th of Feb. The difference is between a 50% and 62% retracement. In any event we should know by tomorrow.
If this index manages to rise above 25500 or so this whole interpretation may be incorrect. But there could still be a bearish interpretation! This would be the case if, for instance , the low of March 2nd was just the end of the B wave and we are presently in C. Not very likely as there is little room to left to maneuver.