ESM18: S&P 500 E-mini continues Triangle, sideways through May

5 Nis 2018

The next target is 2739 to complete wave -d- of the Triangle that began at the peak. The failure to push through the lows from earlier this year increases the odds of continuing the Triangle. Prices closed above the 10-day moving average today, which eliminated the bearish trend that had been starting to gain a foothold. The push higher is likely to be trendless and choppy, making for difficult trading strategies except for holding longs on deep corrections that hold above the end of wave -c-.