this chart is looking good so far,with cycles working well,a bearish DI cross and price pressuring last year's high,threatening a false break pattern.This calls for a measured move to around 1275 by eom or early May

The putative wave count is also working well,but I wouldn't hang my hat on it :-)  Still the trendline break and ema cross are not to be ignored.As always with Elliott there are always alternative counts but this one will do for me,for now.