AynCzubas

4th Wave Triangle Ending in Triangle Wave "e", Target Sub-1833.5

Short
FX:SPX500   S&P 500 Index
1
It looks like the "e" wave of the 4th wave triangle is itself also a triangle, and its component "e" wave likewise a triangle, and so on, ad infinitum (to the extent there is no more wiggle room and the downward thrust will be forced to commence), which is not uncommon. If so, its own post-triangle thrust measurement based on its present parameters would imply the initial thrust below the lower boundary of the 4th wave triangle near 1901 to begin the greater downward thrust.

If the "e" is also a triangle, then taking the end of wave "e" as 1960, the post-triangle thrust for wave 5 should end below the 1833.5 low of wave 3, which is appropriate for a 5th wave.
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