Indeks S&P 500Diupdate Target reached... now what?
My target has been reached, but I think one more litle push up is needed to complete the current impulse in miniscule degree.
After that, if an expanding triangle is in fact the corrective pattern underway, I expect an ABC or WXY pattern to unfold to the downside, which would have to go beyond the end of subminuette wave c (red).
One alternate count is to consider the correction already over, and if so, the current rally would be a series of nested 1-2, which would then take immediatelly the market to more new all time highs.
I choose my preferred count just because I can't understand the corrective pattern of the alternate count.
After that, if an expanding triangle is in fact the corrective pattern underway, I expect an ABC or WXY pattern to unfold to the downside, which would have to go beyond the end of subminuette wave c (red).
One alternate count is to consider the correction already over, and if so, the current rally would be a series of nested 1-2, which would then take immediatelly the market to more new all time highs.
I choose my preferred count just because I can't understand the corrective pattern of the alternate count.
Catatan
Recounting current rally:
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