SPY S&P 500: I now favor one more bounce up.

This post will make no sense is you don't refer to my last post (see link below). The form to me makes me think the one more bounce up scenario is most likely. The ending triangle pattern is a overlapping 1-2-3-4-5 where each wave is usually an a-b-c. This occurs most often at the end of a strong upswing or downswing. It is a transitional pattern. The recent price seems to fit this pattern to me. The projected top is about what I expected from other analysis if you look at my previous postings. BUT like all technical analysis these are best guesses. But like all technical analysis we are just using our experience to anticipate what will happen next. SO process your way. Wait for some price action to confirm what I'm suggesting. (candle stick pattern, line break, trend line break , or previous low taken out. Best to you.

Comment:

Getting close to the top? Within the target box. Still having a-b-c type action. Often a=c. The rectangles show the a=c levels.
Process your way.