From Marketwatch:
At the start of March, we suggested to those who follow us to prepare for a pullback or consolidation in the equity markets. So far, that call has been prescient. But, even within that perspective, we have also consistently warned that the market can still strike a higher high before dropping again to complete that larger degree correction. That higher high is the green b-wave rally presented on our charts, which we are looking to take hold in the near term.