The wedge broke but until the channel falls, it might be just another bear trap.
Yesterday could very well have been the end of wave [iii], if so then we should see a week or so of retracement in wave [iv] before the final push up to around 1365 in mid-March to end intermediate wave (1) of P3. Watch the lower trend line on the chart above for confirmation. The TNX looks to be leading the way once again, having broken down several days prior (below). On my subscription site, I track 10 major indexes via my proprietary swing system. You can have access to all 10 for only $49/month.