Because of the scale of the 2000 correction the count is not affected and it does not really matter in the medium term the fractal wave scale pivot 1, 3 or 5. It shows typical characteristics of a wave 2.
Hopefully in this new format you will start to see how fractal waves are time warped as described in MAP Wave Analysis Part 6 – Understanding Fractal Waves and Time Warp.
Looking on a Yearly tick as far as I have data;
Quarterly tick from the 2000 top;
Monthly tick from the 2007 top;
Weekly from the May 2011 top;
And on daily tick from the September 2012 top;
We will know tomorrow if this correction is over and if we getting a Santa Claus rally. On smaller tick levels this correction is near its end, and I am anticipating new highs this week.
The new colour coding is as follows;