SPX Truncation or Ending Diagonal or Both or Neither?
Updated
It is uncommon to see either one of these ending fifth wave patterns clearly displayed on the daily timeframe or higher on an equity index.
To see both complete simultaneously would be electric and quite scary.
Close above 3700 on the daily and truncation is invalidated; close above 3700 on the weekly and the ending diagonal is also likely invalidated.
Close tomorrow without an attempt at 3690 and we could see some fireworks.
-Ending Dipigonal
CURRENCYCOM:US500
SPX
VIX
SPY
To see both complete simultaneously would be electric and quite scary.
Close above 3700 on the daily and truncation is invalidated; close above 3700 on the weekly and the ending diagonal is also likely invalidated.
Close tomorrow without an attempt at 3690 and we could see some fireworks.
-Ending Dipigonal
CURRENCYCOM:US500
SPXVIXSPYNote
Although frustrating waste of a day, that just now looks like a not-so-insignificant blow off top, followed by a mini-truncated fifth on the smaller timeframes.That into a sunday of selling could move the needle to bearland.
And that.. would be pretty cool
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