|S&P 500 Index Hourly - Potential Triangle Count|
Second, we have not ruled out that the (b) wave of minute-d (circle-d) can't go lower, just that the timing of the potential triangle favors that it is likely over.
Third, in order of preference we have these scenarios and the rationale.
- Triangle - still working out as expected.
- Impulse - Nothing rules out 1, up to 15 Aug, then 2 down to 26 Aug
- Truncation - insufficient downward movement as of this point in time.
|Daily US Dollar Index - May be Headed into a Wave 3, upward.|
The Dollar has all of it's gaps wide-open at this point in time. Still caution is needed as volume remains "summer light" in many instruments.
We wish you the best in the summer choppiness.