Here is the B wave that started from Dec of last year. A WXY structure looks to be forming. W is a zigzag followed by a X wave then a Y wave. In the diagram Y is a triangle but this could possibly be a flat. Look for a top early next week that will then test the 200 Day SMA or slightly above. Then it becomes tricky, either we test test the upper trendline one more time to form the e leg of the triangle in late November or if Y is a flat after topping early next week we will bounce from the 200 day and form a 2 and then a collapse down into the 3rd wave in December.
Either way, we are nearing the end of the wedge between the 200 day and the the upper trendline formed from all the recent ATHs. Look for an explosion of volatility EOY and beginning of next year.
Either way, we are nearing the end of the wedge between the 200 day and the the upper trendline formed from all the recent ATHs. Look for an explosion of volatility EOY and beginning of next year.
Comment:
The Y wave is looking more like a flat imo, should have a top very soon, the latest by next week. Top will be around 3030.
