ac7777

ac7777

The developing triangle is the wave B of wave 2 (upward) of wave "D". It is implying a post-triangle thrust targeting 2077.25/35 and should be limited by 2082.5, the origin of wave 1. After the rally, price should resume the decline in wave 3 of "D" toward 1961.

ac7777

Following my forecast that the S&P 500 is currently moving down in wave "D" of a bearish contracting triangle which began in 2009... There are several factors in wave development which are aligning to suggest that wave "D" will reach the 1930 area, possibly before the end of this month. So far, from 2116.4, the wave structure has included an impulse down to...

ac7777

The large bearish triangle which has developed since November 2014 appears to be on the verge of breaking through its lower threshold (that is the level of the bottom of its "B" wave at 15.2740): A smaller triangle has evolved over the past few days which is implying an initial thrust downward to just below 15.2740. Once that lower boundary is breached, the...