WallStScalper
Short

SP Ending diagonal on daily

SP:SPX   S&P 500 Index
541 2 1
SP             have to break out of upper trend line and close above for 2 days to eliminate the EW ending diagonal .
Have started buying shorts, but will wait to see fridays triple witching for adding
A thing to remember about an ending diagonal.

5th wave can fail to reach the 3rd wave peak - in the SPX case 1730.
A failure to break above 1730 now that the SP-500 has reached 1711 will likely send the SP-500 price falling rapidly back down toward were the ending diagonal began at 1560.

But as always .... time will show.

Safe trading Gents!

BM
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