Sometime within an Elliott wave Horizontal Triangle wave "d" and "e" are much smaller in proportion to waves "a", "b", and "c".
This happens frequently on an intraday scale, there's strong evidence that this may have happened with the SPX Horizontal Triangle forming since 1/26/18.
From the 3/23/18 bottom the SPX rallied in three waves and then declined in three waves into the 3/28/18 bottom.
The really interesting part - the SPX bottomed again at the very important 200 day SMA and also touched the Horizontal Triangle rising lower trend line.
The bears had a chance to really push the SPX down a lot on 3/28/18 and failed, stopping at very important support.
There's a high probability the SPX is now in the early part of a rally that will take it to a new all-time high by May 2018.
Mark
This happens frequently on an intraday scale, there's strong evidence that this may have happened with the SPX Horizontal Triangle forming since 1/26/18.
From the 3/23/18 bottom the SPX rallied in three waves and then declined in three waves into the 3/28/18 bottom.
The really interesting part - the SPX bottomed again at the very important 200 day SMA and also touched the Horizontal Triangle rising lower trend line.
The bears had a chance to really push the SPX down a lot on 3/28/18 and failed, stopping at very important support.
There's a high probability the SPX is now in the early part of a rally that will take it to a new all-time high by May 2018.
Mark