Replies to post #47626 on Short Term Trading Member Forum

[techcharter]

SPX Triangle, Wave 5: Check and check, Now What?

THe action after the wave 4 triangle and wave 5 thrust resulted in a near term top that hit my estimates. At the top of the wave 5 thrust, I did not know if there was larger degree wave 5 to complete. The pullback has 3 overlapping MOTIVE moves to the downside. This could be part of waterfall of wave 1-2 combinations of multiple degrees. OR part of a complex wave 4 correction of a larger degree. Just sit and wait for another high probability setup.