S&P 500 trend lines and ending patterns

Just something I noticed today. Drew up what look like to be the key trend lines for the rallies over the last few years. I also noticed that each rally had a similar wave pattern throughout the middle (12345), a long almost pull back free middle, and then a WXZ with 1.5 fib ext at the end. Now, it is still too early to know if that pattern will hold now, but this down week does lend some credence to the idea.

Note that this in on the Vanguard S&P ETF, so the numbers are not perfectly aligned with the SPX or SPY.



2018


2019


2020


2021 at 4h


Hope it helps.