it has nothing to do with wolfe wave, if you look hard enough you'll see wolf's everywhere, just remember that the next time you look at a chart, the reason is the Dow has lost a lot the us indices are deep in the red so are most of europe and latin america, infact on the 4th I was expecting the nifty to lose ground but unexpectedly it gained, just a few asian markets were able to withstand the bearish effect. When most of the world indexes have lost ground how long do you think we would be able to stand our ground? Its well known we're currently the strongest market in the world, even Van Tharp has acknowledged this in his latest news letter, but remember we can't hold out against the world for very long.