China’s market responding to china’s eforts to reduce the stimulus measure.

S&P lower high was made on May 3rd and we have today taken out the lower low of last week.   the previous sell trigger should have protected any long positions.
the futures have now moved down quickly to the days low of 1164.25, very near the 1163.50 target projected.

Long Term –
is still in the move up with a target of 1221. a move below 1147 starts the move down. both time and trade pressures are down.

Daily –
Both time and trade pressures are down.  the down cycle ends May 11th.
in the move down from 1190.25 to the first target of 1163.50 then to 1150.  Final target down is 1110.
will need to take out the recent highs to restart a move up.