S&P 500 ~ small degree wave four triangle completes at today's low...


The market has traded in a tight range for the past two days which fits with the wave four correction suggested in the last update.

Our chart shows how a "running triangle" may  have completed at today's low to end a small degree "sub-minuet" wave-iv.

Triangles sub-divide as five wave formations with the sub-waves each tracing three waves. Each leg in most cases will have a price relationship with a previous leg.

This triangle has multiple wave relationships...
(C= A)...(D= 61.8 of B)...(E= 61.8 of C).

This will be confirmed if we see a sharp rally to new highs as wave-v.

This new high price will complete a thirteen wave formation with wave (v) being the extended wave within the impulse pattern.

Follow the Trend
and
"Trade Safe"


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