Yep Heavy, once you get a Wave 5 top, a pullback, and a retest of the Wave 5 peak (a Wave 1 down and Wave 2 back up), it's pretty well dead. :-)
Of course, this is the first move down...basically a large Wave 1 to the downside. At some point, we'll get a bounce back up for a large Wave 2 and then down again for a large Wave 3 and then back up for a large Wave 4...and then it really falls apart.