S&P 500 - Evidence of a top is getting stronger

Last week I said, that the test of 1,156.80 might have been enough to end wave 2 We had the first minor indication by breaking below minor wave e in a five wave decline, and the following rally is clearly in three waves, and as it ended almost precisely in my target area (the red box) it has raised the odds for an important top being in place.

We still need a break below 1,122 to confirm the top, but the current decline does look encouraging and seem to display impulsive behaviour.