SPX - Ending Diagonal Triangle Update

Ending Diagonal Triangles (EDT) typically have throw overs of the trend line connecting waves one and three. The break through has taken longer than normal. Today the supposed EDT climaxed with a possible smaller degree EDT. The subsequent decline only marginally broke the lower EDT trend line.

A decisive break below the EDT lower trend line will strongly imply the EDT is complete and open the door for more downside action.

Mark