Prices were rejected by purple SMA, which ended wave a, the index now being in wave b of (c), still developing. We need b to finish to be able to mesure possible lenght of c of (c), the final wave of the corrective sequence, and end of wave 2. For now, all we can say is that it could be anywhere from 2810-2820 area which comprises 0.618 retracement level and wave (a) high, to 2045-2075 area which comprises (a)=(c) and early 2018 high, made on high momentum and barely overtaken this fall. I would also like to see some momentum divergence developing in process. Possible backtest of the broken blue trend line is also to be monitored closely.
Naturally, this possibility needs to be confirmed also. So, patience is required till things clear up.