The S-wave is money flowing from BTC
into alts and eventually back into BTC
as the impulse given to alts by sw2x cancellation fades away alts are sold off to take profits. The reason we're only seeing a very slow increase is probably alt holders hoping their alt will continue to the moon so they're not selling them for BTC
just yet. Once they realize the alt(s) slow down, that's where the tip of the arrow points.