Closing Brief

The market appears to have completed a 5 wave decline from the 1573 Tuesday high. The only issue is whether today was the first wave lower, or if there is still one last spike high to test 1576. What is clear though, the bulls are losing control of the market.


sp'60min

Summary

When you look at the 5min chart, you could count down a 5 wave series from the recent 1573 high. I'd not noticed it until just earlier, but then...'everything is clearer in retrospect'..right?

sp'5min

Its impossible to know whether today's action was a sub wave'4, but the bigger cycles are clear now...we're headed broadly lower across April/May.

The usual bits and pieces..later.