Market Timing Update (5/27/10 Close)

SPX/mini - Five wave up likely complete. This could be the top of [ii] of 3-down, or [iv] of 1-down, or the top of [w] of 2-up if 2-up is indeed in progress.

Note the bearish divergence between price and RSI in the 60-min chart.

Note that the cash index closed just below the 200-day MA, on lower volume.