As you know often contracting and expanding triangles often occur after a rapid rise as a form of sideways consolidation. Many times these triangles have 5 waves each of which is a a-b-c form. ( EWT
) Often this before the LAST bullish
rise to THE TOP. It looks to me like this may well be what we are seeing in stocks. If correct we are in for a fairly rapid large 5 waves up to possibly a new high, or a double top
, or just close to the previous high.
Have a great weekend. Don't forget your loved ones on February 14th.