If I look at the Euro it looks like I’m in some kind of triangle consolidation pattern. That would tell me that I am probably in some kind of 4th wave. To sync this up with the S&P it appears that everything from May 20th could be labeled as an ABC flat 4th wave on the S&P 500. That would give me some alternation with the 2nd wave which as a zig zag from April 9th till the start of May.
The big reversal day down on Monday was the 15th day of the rally, the duration of the 2nd wave was 15 days.
Something to consider if we get a hard down today.
Hi Ed,
If I look at the Euro it looks like I’m in some kind of triangle consolidation pattern. That would tell me that I am probably in some kind of 4th wave. To sync this up with the S&P it appears that everything from May 20th could be labeled as an ABC flat 4th wave on the S&P 500. That would give me some alternation with the 2nd wave which as a zig zag from April 9th till the start of May.
The big reversal day down on Monday was the 15th day of the rally, the duration of the 2nd wave was 15 days.
Something to consider if we get a hard down today.