Here are the updated wave counts for the major indexes. All but the RUT favor a count of wave [iii] of [v] of (1) of P3, the alternative count, which I also believe bests suits the RUT is that this is an extended wave [v] of (1) of P3. If this is the third primary wave of a new bull market, then one would expect it to be stronger than the first primary wave (i.e. the wave off the March 2009 lows). And, with this week’s action that is just the case for each of the indexes. Thus far the Nasdaq has gained 749 points since the P2 low or approximately 1.47*(1) of P1 (just 13 points shy of a tidy 1.5x). The RUT has gained 234 points, precisely 1.382 times its intermediate wave (1) of P1. Meanwhile the Dow and SPX have only out-gained (1) of P1 by roughly 11%. The target I gave for the SPX this week was 1330.50ish and it turned out to be pretty close.