|One way the triangle could have wrapped up|
For this reason, we must also suggest it is possible for the (c) wave of circle-d to still be in progress and possibly form an ending diagonal like this one, below.
|SP500 Hourly Triangle Continuing|
In the second case, the circle-d wave is not over, and, when it is, then circle-e must come back down to overlaps wave 3, again. But, in this second scenario, was circle-d may not under any circumstances travel higher than wave circle-b, or below circle-c; those are our two key invalidation points.
Let's see how it goes. We find it encouraging that the market has not broken to the down side and completely invalidated a triangle at this point. Triangles 'take time and move sideways' and this one is certainly doing that.