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