S&P 500

The S&P has a broadening formation or expanding ending pattern, that can result in a top for a while. The daily momentum is back in sell mode so we have to think if the lower line can be retested. If the lower line breaks at 3473 then we get a top with a projection down to 3500. Now the entire rise was being marked as 1-2-1-2-1-2 as smaller and smaller waves were forming so 5<3<1 can be considered to mark a top for the entire 1 year advance. Lets see how this goes till new evidence shows up, there is room for US stocks to decline.