S&P500 ~ bears should take control soon as the rally nears an end...




In the previous update we outlined a potential triangle structure for wave (b) that completed into Thursdays close. However, overnight trade broke above the maximum price allowed at 2039.75 invalidating the potential triangle.

 This now confirms that wave-c/y of (b) becomes the primary count which is in the very late stage.

 The two charts are labeled to show that the only options here are whether wave (b) will end as w-x-y or a-b-c.

 If the complete pattern ends with wave-y then the high today makes wave (b) complete.

 If the correction off the high today is a small degree wave [4] then we will see another small rally early next week for wave [5] to complete wave-c and to further complete wave (b).

 Once complete Wave (c) down will still have targets to or below 2720.00.
Follow the Trend
and
"Trade Safe"

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