The Risk of a Triangle 4th Wave Remains

I still cannot rule out one more drop. I will become more confident that we’re ready to run if we can clear these prior highs with gusto and fanfare (green arrows).

Until then I can still see this going either way.

SPY

Agonizingly, it may also be counted like this, neither falling all the way to the 5th wave target in the chart above, nor rallying right away to prove itself.

It may also be a larger ending diagonal like this:

SPY

With all the trappy bullshit going on the last few months, there’s no telling. But: in any case, I expect a low to already have been put in, or for one to be put in in the next few trading hours anytime between now and tomorrow morning.


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