So that would be more evidence that the minis are perhaps exhausted and in need of a major correction. Of course as you can see, breakout support is still holding so nothing in life is a slam dunk.
I plotted wave  as being an extended wave its really the only way I can see counting this from a bear perspective.
There is every reason to believe the market topped in the Wilshire and S&P500 as we have accounted for every wave at Intermediate, Minor and right on down to the sub-minuette level. Yesterday I showed a couple of powerful Fibonacci relationships were met in the Wilshire 5000 almost to the point. The DJIA may have another high coming with its wave structure looking corrective today. A diverging set of tops would be normal.
The Wilshire shows what may turn out to be the P high.
I'll have more charts later.