RB1988

S&P major correction coming!

Short
OANDA:SPX500USD   S&P 500 Index
So it looks as though we are coming to the end to this amazing, almost decade long bull run. The ascending broadening wedge (megaphone pattern) is a good indicator of a terminal wave pattern too. We may get one last touch off the top of the wedge to complete wave 5 of the whole 10-year structure, however in ending diagonals, the 5th subwave might not reach the wedge roof. Either way, a break above and I'm wrong. Measured move of the ascending broadening wedge takes us down to beginning of wave 5 which is ~$1820. So I'm expecting an ABC correction to take us down there.

Thanks for reading :)

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