Friday was a triangle! Those sneaky triangles, thinking they are all cool with their 3 sides ....
Yep, it looked like a corrective mess and had a lot of people confused (myself included), hallmark of a triangle.
So here is my current count. Using SPY since there are data feed problems with SPX. But I have checked and this count works on the NASDAQ too.
Bulls win again, more upside in this leg of the rally too before any meaningful pullback.
AMENDMENT: After dropping this off in the CIL, alpha pointed out his count of this on Friday: https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgLIbT0xjmgoWla2ExDWN8fFi3i31meRTsdHeC-0icTQWsFiyexEA2ngaiXiljLhVxzyoEzH78mnKgvxjA9ISOFTlGceAPu-X-CZ9ePGTXBzGEaFFKVfeIKSenolGdYngW4uDG2DcJX9lvw/s1600-h/30+min+spx.png. Man, I am behind on the times :)
From E-T: Weekend Post – March 10, 2018
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There is a new post on my blog at this LINK. Cheers and enjoy the chart! E-T
6 years ago