8:45:30 Market analysis from wavespeak.com:By the end of the session, three of the four major indices left a key reversal day on the charts, and did so with plenty of reasons to take it seriously. Today's action finally gave us a five wave advance across the charts. This alone was important, as it indicated that a fifth (and terminal) wave was emerging from the recent messy 4th wave action. Upon completion of this impulse, the indices declined strongly and impulsively into the close, retracing the earlier impulse up and then some. This decline took out a short term support on the Dow, another confirmation. This is exactly the type of set up we look for to indicate a change in trend. Judging by the wave count and where this reversal is occurring, this could be an historical high, a very important one that will stick for a long time. For now, we play it as it comes. We want to see the lows put in last Wednesday taken out over the coming sessions for further confirmation of this reversal. These levels are: 9706 Dow, 1048 SPX, and 1400 NDX. The final, black and white confirmation will come with a break of the lows put in on the 21st, which will indicate with very strong confidence that the rally is over. We can not break the highs put in today at any time or this analysis is wrong