SPY midpoint

The SPY is exactly half way between the April 2010 highs (give or take a few pennies) and the June 2010 lows (+/- a few pennies), and 0.72% down on the year so far. Amazing that it has taken 45-days from high to low and only 16-days from low to midpoint. While it took 10-days from midpoint to lows.
Possible bearish scenario is the overhead 200-SMA with a bearish Wolfe Wave setting up