And If the Coil Fails, Here Is the Target for That

The coil discussed this morning is mature. Considering how late it has come in a move, I do suspect an ending diagonal, but it needs to get moving. If it does not, it may also be a 4th wave triangle, like this, much like we had the other day (as I see in hindsight):

SPY

If this fails, target is about 50 SPX points below, which would give us the “underthrow” on the S&P wedge and a “touch” on Apple’s, I would suppose. But, if it does that, that should almost certainly be the end of the move.

The little wedge here today feels mature, and overdue to break up. The longer it goes without doing so, the greater the risk of failure.


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