Stoxx 600 - a top in June 2007?

The Stoxx 600 is breaking down the long term uptrend channel active since 2003.
In terms of Wave patterns it looks like a perfect 5 upwaves top in June.

(see red arrow on chart-TD combo sell signal)
The first targets of the corrective ABC pattern :335 (C = 1.618 A) 303 (C = 2.618 A).