Well, the triangle thrust is good this time. We may end up at 2100, but even if we stop prematurely, it's also OK.
Remember that the triangle is the last corrective structure before the _last_ advance in the sequence. I do believe the whole advance from 1800 to the highs has been corrective in nature (more visible in Nasdaq than in SPX), so this advance is supposed to be fully retraced (going below 1800).
I am looking at the entire rally in the indices, in Crude and what I'm thinking is that once the dust settles and people put off their rosy glasses there will be hangover. I won't be surprised if we see a market crash of immense proportions in the next couple of months.
Remember that the triangle is the last corrective structure before the _last_ advance in the sequence. I do believe the whole advance from 1800 to the highs has been corrective in nature (more visible in Nasdaq than in SPX), so this advance is supposed to be fully retraced (going below 1800).
I am looking at the entire rally in the indices, in Crude and what I'm thinking is that once the dust settles and people put off their rosy glasses there will be hangover. I won't be surprised if we see a market crash of immense proportions in the next couple of months.
