Completion of expanding triangle heralds large crash
The SP500 is completing an expanding triangle as a wave B in an A-B-C correction. There is still some upside to complete this in a throw-over of the trendline. After it completes, expect huge downside with a bounce at the middle trendline before heading further down as a wave C. Take caution in equities.
We are in wave E of the triangle that began at the nadir in March and will likely finish off in an expanding ending diagonal as a C wave of the 3 wave structure as a zig-zag.
We are in wave E of the triangle that began at the nadir in March and will likely finish off in an expanding ending diagonal as a C wave of the 3 wave structure as a zig-zag.
Note
After looking at all the data, this scenario is unlikely to occur. This is my new view of the stock market in the future.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.