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
Have started buying shorts, but will wait to see fridays triple witching for adding
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