There are at least 5 waves down on the Wilshire 5000 and S&P500. The pullback since the 1414 SPX high is probably too deep to be considered part of a 5 wave move structure from the 1340 SPX pivot low.
So we have a 5 wave count up from 1340 to 1414 SPX. Question is, does that imply 1414 SPX is the top of P? For now we can assume so unless something else emerges (such as a higher high above 1414 SPX).
Best count might be for a wave (ii) to cover some gaps down.