Time For Market Decision

Today, we came down into the region we have been targeting for over a week now.  The question now is if the market wants to tell us a significant top is in place, or if we still have that 5^th wave we have to ride higher.  And, the manner in which we came down into this region forced me to bring back the red count that I presented as a potential over the weekend.

As I have mentioned several times today, the 1647ES level is the key to me right now.  A break down below that can easily see us open tomorrow in the 1630’s in an extension of wave (3) of iii of 3 off the highs.   However, if it should hold and take out 1658 and then 1672, we are likely heading to a new high in the 5^th wave.