Expecting 5th Wave; target 156+

Possible 5th wave that extends to minimum 156 with likely target of 167.

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Pennant forming on what appears to be wave 4 of the minor. My trade setup for next week will be to go long on a break of wave E, or a convincing break of the top of the pennant.

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Position opened at 132. It appears an ABC correction, wave 4 of the minor, has been completed.

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SQ threatening downside action. My forecast was 173, so my position is still open, but another drop below 147 and I will be closing.

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Accidentally posted PINS update. Here is the SQ chart.

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My original forecast is still a possibility.

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I guess it's safe to assume my original forecast stands.

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Closed at 154.50. I was hoping for more, but the momentum appears to be slowing, so it is likely on wave 5 of wave 5.

SMLFinwave

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SMLFinwave