The first triangle (late Oct 21st to very early Oct 25th) I mentioned a couple days ago. The more recent triangle (late Oct 27th to very early Oct 29th) has completed, and its wave 5 of same degree looks complete.
On a cycle basis the SPX is a little more than half way through a 6-7 week cycle. I'm using measured, not nominal time.
Cycle Lows: Late June to Late Aug = 8 weeks Late Aug to Early Oct = 7 weeks Early Oct to Mid Nov??? = 6 to 7 weeks, we're 1/2 way there. Notice how the period is shrinking.
Highs: Early Aug to Mid Sept = 7 weeks Mid Sept to Late Oct??? = 6 weeks, that's right now
I see no negative divergences on the Stochastics or the MACD. The Relative Strength Indicator (RSI)potentially could form a slight negative divergence. I do see a negative divergence with volume. Since late June 2013, price has been rising on declining volume for the first 2 cycles above. There has been a slight pickup in volume during this 3rd cycle; however, the last four days have all been gains on declining volume after 3 weeks of rally.
E-waves, cycles, and volume are signalling a near term top.