RIGHT SHOULDER? DOUBLE TOP? OR EXPANDED FLAT?

  • We are watching to see if the current rally breaks a possible "double top" and creates the possibility of an Expanded Flat. "(A)" and "(B)" have been 'Corrective" so there is a strong possibility of this since "(C)" in an Expanded Flat is 'Impulsive' ( ie 5 count).
  • This would deliver the "(C)" in the bottom right corner of this graphic....

SOMETHING FURTHER TO THINK ABOUT....

Wave 5 in this chart correlates with our 3040 S&P 500 target for the culmination of this leg.