Bfeller

Anouther Perfect Triangle

AMEX:SPY   SPDR S&P 500 ETF TRUST
After breaking out of the upward wedge , we see a perfect triangle formation start shortly after an ABC correction. Lets see if it breaks down tomorrow.
Jan 25
Comment: Since this didn't work out, I am now of the belief that the B in this triangle is actually wave 4 of the impulse I had pointed out in my last analysis of SPY "a very dirty wedge." This would mean that we have another rally before the breakdown begins :)

Comments

@Bfeller I agree with the pattern, but oil is pumping due to the Venezuela issues. It's going to throw a wrench into the mix.
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