SPX is crawling along an overhead trend line while making new record highs while doing so.
We now have 4 legs of a potential small wedge to conclude a zigzag since Nov. Based on today's low, the 5th leg is capped at 3779.14 to coincide with the Santa rally, or could fail - given the end of day rebound, a breach of the wave [d] floor of 3647.71 would offer initial confirmation of a failure.
DJIA etc....
ReplyDeleteIn crunching some time numbers if the rally since March is a B wave (as the shape and odds seem to indicate) then will not have too much longer to run - a month more at max.
Thats starting the count from Jan 2018 to the March 20 low.
If it is an running correction from Jan peak then it may go sooner. See BA.