S&P 500

There is an interesting tweet on twitter that mentions 3 occasions when US indices fell more than 3% in Decc and in all cases the decline was a knee jerk reaction. The S&P fell from a lower high than the wave A high which is surprising. EWI is again saying wave 2 over crash dead ahead and it is scary. But unless I see follow up action I would like to wait and see if markets attempt making one more move to the upper line.