The long-term analysis found in this update is still accurate; with the best options by a good margin being a 5-wave move higher since (A) and a sideways correction since [3], the impulse rally since [2] is likely at or near its end.
From 2009, a zigzag or double zigzag is still possible, but not favored. The reason is that there is little symmetry between the 'a' and 'c' or 'w' and 'y' movements and price is well above the 2000 and 2007 highs. A sideways correction from one of those highs would make more sense if there was a tighter range, not a huge breakout higher. From [IV] an ending diagonal with 1st wave underway or just complete is possible, but this is a rare pattern and contains the problems with the zigzag-family structure just mentioned.
Read the remaining text of my 1000+ word analysis and much more at http://ewaveanalytics.com.
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