S&P 500 Monthly - ... no matter which way you slice it, ...

If one looks at an S&P 500 Weekly chart (not shown) with OHLC Bars, one can count a clear 5 waves down
from the February high to the March low (where we have the 'a' marked on the Monthly chart displayed here).

So what does this mean?
It suggests that no matter which way you slice it, corrective moves that start with a 5-wave down structure
are never the end of a correction. To complete the corrective sequence one would have to have this followed
by a 3-wave structure back up (what we propose will be the 'b' on the Monthly chart), followed by another 5-wave
sequence down (i.e., the 'c').
That's the rule.

Note though, this does not mean we couldn't go to a new high, but, the 'b' would have to be followed by a
'c' down. In other words if you really wanted to be tricky, tricky, you could engineer a new high for that
feel-good feeling (i.e., an irregular corrective pattern).

Who would be so devious?

Again, if one looks at a Weekly chart with OHLC Bars, we do not as yet have a clear 3-waves back up.
So, one might reasonably expect a minor pullback to begin here shortly (perhaps on disappointment with
the announced OPEC deal today) followed by another push up on the Weekly chart to complete the
'b' on the monthly chart.