SPX final wave unfinished business higher?

31 Ara 2016

I'm confused about the rise from 2084 as it didn't reach logical upside targets. This chart is just one possible explanation.

3 Oca 2017

Not

If the rising wedge idea is valid, then (from the a,b triangle) the rise to 2277 will be wave 'a'. Wave 'b' should ideally fall to overlap the peak at 2213.

3 Oca 2017

Not

I should have explained that (from the a,b triangle) the move upwards to 2277 is an exact abc where c=1.618. That seems too much like coincidence and reinforces the idea that a rising wedge might be in play.

3 Oca 2017

Not

Interestingly this rising wedge idea for SPX matches the same potential pattern in FTSE.