lets look to N50 and his behavior since the Marked topped @ 11171.55 on Jan 29th!
For this analyse it is not important to check the wave labels, it is more important to check the Marked Breadth and of the Index.
At Jan 29 N50 topped with a A/D-Ratio of 1.27, which is solid. The following Days and Weeks the Index declined to at least 9951.90 at March 23 and shows an A/D-Ratio @0.29! A Ratio so weak that often indicate the end of a decline. The next day N50 start to rally in (to my view) a Bear Market with a Ratio @ 3.55 and set a high @ 10929.20 and a Ratio off 0.85. It also create a Reversal candle, a „Hanging Man“! So again N50 declined in the range from 9951.90-10929.20 and the next leg of advance even failed to exceed the prior high at 10929.20! That all occured with lower readings off the A/D-Ratio and a TRIN!
This is a weakening Market and it`s behavior is not a „Bulls Pattern“!
From my perspective the correction is not done and different options exist from an EW view!
Once the favor comes to daylight we will discuss it a this pages!
Have a great day...