yauger
Long

SPY intraday triangle. Rally not over yet

BATS:SPY   SPDR S&P 500 ETF
From the recent high the SPY             has declined in a clear ABC elliott wave pattern. Two impulse waves separated by a triangle of near equality strongly suggest that it is a counter trend move and once over, new high is in the card. I am confident about that but my confidence ends right here. This counter trend move might not be over, etc. The only point I am trying to make here is even if we are overbought and the rally is showing sign of exhaustion, it is not over yet
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