Markets breaking down per recent topping model

In this post I modeled a 5th wave triangle in throwover.  While the index modeled there was the $COMPX, all of the charts look similar.  Here, for example, is the S+P 500 which looks very similar.  Note that this morning, likely based on Wal-Mart's poor earnings, this chart has broken back into the channel and will most likely break through the bottom before I can finish typing this post.  Why?  Because I expect both the upper and lower rails to get taken out by the 3 wave.

Folks, the media is blaming the poor earnings on an "extremely harsh winter".  I call bull$hit.  People do not store much food or supplies these days (which will turn out to be a major, major mistake for many people at some point).  When they need something they run to Wal-Mart even if it's nasty outside.  In other words, the country doesn't eat or consume less just because its cold.  If they are cutting back its because of fewer jobs and lower pay for the jobs that they are getting.

Macy's also missed their earnings target and revenues were also lower than expected.  Macy's is a good short right now.  TVIX will begin to get some respect now.  I bought a bunch of it at $5.20 which I think is going to be a long term bottom.  I'm expecting TVIX to go off the hook when the big panic finally hits the markets and everyone figures out that the last one out of the stock market Ponzi will be left holding an empty bag.