RonBjustrom

RonBjustrom

Looks similar to 2015 C Wave correction. This could also be a possible C wave correction.

RonBjustrom

This 2015 C Wave correction looks very similar to our current chart.

RonBjustrom

Don't get too Bullish yet. Should see one more new low.

RonBjustrom

Here's the bullish count. Watch the close today and see if we close above or below the downtrend line.

RonBjustrom

Sorry I was in too big of a hurry. My previous count can't be a Contracting Diagonal because it takes too much time for wave 4 so it has to be a expanding Diagonal.

RonBjustrom

The SPX is at its downtrend line. This is the only way I can count this rally as a C wave to keep a bearish count alive otherwise we have to which to the bullish count. This would be the last stand for the bears. Either way I except new highs in a few months.

RonBjustrom

Looks like the triangle was confirmed today by taking out the D wave. It's not a guarantee but it looks good so far. It should continue into Monday - Tuesday to complete. And then should have a sharp rally. I would except at least a 50% retracement (4400) once the low is completed.

RonBjustrom

Got ahead of myself and shouldn't have changed my count from last night. Should have new lows early next week. Could have a big gap on Monday.

RonBjustrom

Since we didn't breakout lower it looks like we could be forming the triangle a little bit different.

RonBjustrom

Looks like the RUT 2000 possibly finished a wave 4 triangle. If we take out yesterdays lows that should confirm.Look for new lows next week.

RonBjustrom

Here's the view of the whole count. This B wave decided to be different than the other two B waves.

RonBjustrom

The correction isn't a simple A-B-C like I thought it would be so it decided to make it more complex. I decided to also revise my count.

RonBjustrom

Should have just complete wave 4 and now into wave 5 should make one more new high to complete wave C of wave B.

RonBjustrom

We should be finishing the wave B and then should have 5 waves down to new lows.

RonBjustrom

Trying to figure out if the A wave in this 5th wave can be longer than in wave 3.

RonBjustrom

Should see a rally to the downtrend line to finish the B wave. Then we should see a selloff to new lows.

RonBjustrom

Could the decline from all time highs be a leading diagonal.

RonBjustrom

The Triangle could predict the next move lower on Sunday night.