Wave Watch: Primary wave count calls for 2745 retest but bulls resisting. The R2000’s refusal to correct argues our daily chart wave count may be incorrect. We have been tracking an alternative count in this weekly chart which we had previously dismissed as too low probability to publish. Corrective waves can be accomplished by time and price (or both) and the time we’ve spent consolidating along with a recent new all-time high has pushed this alternative view into a higher probability category. While we still think the daily chart’s call for a 2745 retest more likely, the odds are much lower. If the R2000 holds above its 50 DMA this week, we would likely be forced to emphasize this weekly’s more bullish reading which has us still building the third of third — usually the strongest wave — with a year-end target above 3300.