Many questioned the market had much left in the last post.
Couple of days later when they could see the triangle of support. More became confident of the upward motion mentioned.
I held to the 7-22 low created early in the day as the reason for higher.
Now is this the top---Many of us have said, and questioned the top was in before. To that the market keeps pushing higher.
Breaking the down angling line in June and early July. That almost contained the market. Will now have the market seeking the further out trend line, before finished with the corrective wave and most likely this -C1- wave will end out there.
The higher highs and high lowers on the daily chart over the last couple of weeks. Leaves one strong indication. That any daily bar broken will cause a hard fall. Especially with the spike today and most likely the high for now.
As on the open of new session it dropped right to wave four minor up. Broke it just a quarter, but with wave -c- the deepest. Most likely no recovery now.
I still believe--even with the strong resilience of this pattern. It is an wave -b- and this market is in a larger wave four pattern for quite sometime now. That started back on 6-10 when I thought the market gave it up then at that line.
What road will it travel to get there?
I believe the top is in here or very, very close. Therfore,
We have not yet had a fourth wave of 50% retracement from the 3-6 low.
I figure this next wave down an -c- wave which often is the deepest will target that now.
The question mark on this chart--indicates that the wave label is not complete.
Here is a basic outline of what I expect----
