Today's market action didn't provide much follow through either way to strengthen the direction of the market.  As ShepWave has mentioned many times... be careful selling a market that Gaps Down and be careful buying a market that Gaps Up.  In tonight's update I show some clarification of today's action.   Our next key target to the upside for the Dow would be a 1.618  move of wave 3 giving us a target of 14,775 for the Dow Industrials for the wave 5 which began in March.  Another possible Fibonacci Extension target for the Dow would be 14,050.  This would make wave 5 equal to the entire wave 3 move.  Or, will we get a gap up followed by selling pressure to signal a top?  The S&P 500 index missed making a new high to the recent high by .03 of a point... pretty close.