I wasn't a big fan of the triangle sketched out earlier in the comments for the prior posts. So, after the heat of the battle, I took a step back to weekly chart, and the following count occurs to me that it can not be ruled out.
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| SPX500 (CFD) - Weekly Close - Looking for Minor C |
Based only on the sizes of the A and B waves, that is, based on degree labeling alone - it can not be ruled out that Minor wave C will be a contracting ending diagonal. We all know the (b) wave went essentially nowhere and had different forms in different markets. This might be a reason why.
Price is making higher highs which is also a potential sign of a diagonal or something larger upward. If this is what should wind up occurring, it would also be one of the trickiest waves of a lifetime. I will also offer the caution that this is still hypothetical and very risky.
Have an excellent start to the evening,
TraderJoe
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