This is a 30-min intraday chart of the DOW and it looks like the bearish trend is continuing after the April top. The DOW top did not go to new record highs but ended up falling well short. For now, a slightly truncated or shortened 5th wave will have to do, until this 5 wave sequence has all played out.
I started using a Minor degree run which can be adjusted later on as reviews become necessary. Any Cycle degree top would need at least one “A” wave in Primary degree for part one of a Cycle degree correction.
I’m sure there are daily trading limits with most of these indicies, because if there were no limits many of these plunges would be far deeper and last longer much longer.
We are 90 years from the 1929 crash which makes it 3, 30-year cycles that have completed. Except for some unexpected counter rallies this bearish phase could last for all of May.