S&P 500

US indices are down by 2% yesterday. This after the 5 to 6 day advance when nifty itself was going the other way. The rally in the S&P 500 looks like a 5 wave move that I have marked as wave A and we maybe in wave B correction, that will itself subdivided into a-b-c  and can be mapped with the channel was lower end is that 27914 wave c of B to complete. Another rally in wave C up remains due and therefore this is not a final top.