the projected 1217 target was met yesterday; where we would normally expect some consolidation or retracement.  the retracement began almost immediately and was sufficient to trigger the short entry.

time pressures have turned down on both the weekly and the daily.
trade pressures are down on all time frames.

weekly –

1221 is the next target up, but we have traded below last weeks low, and a trade below 1147 will confirm the long term short  – with a first target of 1077.

Daily –
todays trade below 1190.25 triggered the short entry, the next target is 1163.50.  it will take a trade to new highs to restart the bull move again.  the cycle suggest that time pressures will turn up May 11th.