My last post noted the SPX was close to completing an Elliott wave Horizontal Triangle.
I thought the pattern would complete today 9/21/16 in the first hour of trading in the area of 2130 -2135.
The SPX rallied on the open and never got close to the target zone. What happened appears to be a rare nine wave Horizontal Triangle. In this particular pattern the wave "E" subdivides into a regular five wave Horizontal Triangle.
That what looks like what happened today.
A post triangle thrust up is probably underway on track to reach the target zone of SPX 2230 -2260 by 9/30/16 -10/03/16. This target was in one of my more recent post.
If the SPX reaches this target it could be the conclusion to the bull market that began in March 2009.
Mark
I thought the pattern would complete today 9/21/16 in the first hour of trading in the area of 2130 -2135.
The SPX rallied on the open and never got close to the target zone. What happened appears to be a rare nine wave Horizontal Triangle. In this particular pattern the wave "E" subdivides into a regular five wave Horizontal Triangle.
That what looks like what happened today.
A post triangle thrust up is probably underway on track to reach the target zone of SPX 2230 -2260 by 9/30/16 -10/03/16. This target was in one of my more recent post.
If the SPX reaches this target it could be the conclusion to the bull market that began in March 2009.
Mark