But e-minis say otherwise SPX June 2012 e-minis are showing multiple degrees of waves 1-2. The lastest wave 2 looks like a flat, which is signalling a huge plunge. http://charts.insidestocks.com/chart.asp?sym=ESM2&data=Z60&date=051406&den=HIGH&divd=Y&evnt=ADV&grid=Y&jav=ADV&size=D&sky=Y&sly=N&vol=Y&late=Y&ch1=011&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk