Hopefully that rally from the Feb 9th low isn't an impulse so we can get long at lower prices.
The chart looks messy so I'll try and clean it up a bit.
If this count is correct then we're headed towards supercycle wave 5, of grand supercycle wave 5, of submillennium wave 3 !. Though you have to wonder if this bull run from the March 2009 low (till year 2020) can even be cosidered a supercycle (impluse) wave??? ...a mere 11 year ride for a supercycle wave?! Of course, the S&P 500 at 4200+ also sounds ridiculous,...
I'll post an updated count of the entire structure so minor wave 3 is better seen in the bigger picture.
Triangles are very difficult to pinpoint until they are in wave "E" so we'll have to wait and see.
The non-alternating waves might be a red flag; though there IS alternation between the primary and intermediate degrees (waves 2 and 4 obviously).
A possible intermediate wave ending diagonal is nearing completion by the 1st week of September, and then... a MASSIVE DROP to $49 ?!!! BUY! BUY!! BUY!!! Momentum indicators are diverging with price action as well.
Buy the next pullback... possibly falling in October.
Check out the debt on AT&T's balance sheet! No good if rates go up! Short term long, however.
...otherwise wave 3 would be the shortest. Still bullish, but I guess the raising of interest rates in the future will peak WFC around $70. Buy pullback if it hits $40.
Perhaps this is the best bank stock chart in the S&P 500. I don't think GS or JPM are as clean, but I'll post some counts for them as well.
The bull market is NOT over! WOOHOO! =c) The S&P should break to new ALL TIME HIGHS by year end!