Looks like the triangle was confirmed today by taking out the D wave. It's not a guarantee but it looks good so far. It should continue into Monday - Tuesday to complete. And then should have a sharp rally. I would except at least a 50% retracement (4400) once the low is completed.
Got ahead of myself and shouldn't have changed my count from last night. Should have new lows early next week. Could have a big gap on Monday.
Since we didn't breakout lower it looks like we could be forming the triangle a little bit different.
Looks like the RUT 2000 possibly finished a wave 4 triangle. If we take out yesterdays lows that should confirm.Look for new lows next week.
Here's the view of the whole count. This B wave decided to be different than the other two B waves.
The correction isn't a simple A-B-C like I thought it would be so it decided to make it more complex. I decided to also revise my count.
Should have just complete wave 4 and now into wave 5 should make one more new high to complete wave C of wave B.
We should be finishing the wave B and then should have 5 waves down to new lows.
Trying to figure out if the A wave in this 5th wave can be longer than in wave 3.
Should see a rally to the downtrend line to finish the B wave. Then we should see a selloff to new lows.
Could the decline from all time highs be a leading diagonal.
The Triangle could predict the next move lower on Sunday night.
I'm predicting a sharp lower opening on Sunday night and new lows on Monday and maybe extending into Tuesday but then quickly reversing. The B Triangle is like a spring that should cause a gap on Monday morning.
If you draw a trend line from the two number 2's theres only been one close above it. And it stopped todays rally so far.
Can a wave 2 be a triangle. Is it possible for a triangle be a wave 2 in a diagonal?
Tried to put a 5 wave count to the current sell-off.
I think the corrective rally that is having now should be labeled as a Wave B. Based on wave 3 I think it should be shallow.
Could have we just finished a Wave 4 and now heading lower to a new low for a wave 5.