BTC leading price indicator for the S&P500?

Just thought I'd make note of this even though it isn't an original observation. A case can be made there's a strong correlation with impulse moves on bitcoin soon followed by the s&p market index. It will be interesting to see if the trend continues. If it does we could be in a bear market for the rest of 2018.
I really hope this isn't the case...

Komen:

Latest chart not looking bullish over all.