a post triangle thrust. In prior posts I've note that the SPX decline from its all -time high was probably an - Horizontal Triangle.
The triangle appears to be complete and a post triangle thrust up could be under construction.
The SPX low on 5/24/18 was 2707.38.
A .236 retrace of the rally from 2594.62 to 2742.24 is 2707.40 a near bulls- eye hit.
My work using the "Market Profile" method shows a very strong value area has been formed between SPX 2707 and 2734. If the SPX does not
go below 2690 - this value area could provide a base for a big move up of at least 200 points in the next two to three weeks.
A move above SPX 2742.24 could be very .
including his own patented 4 Dimension Analysis , allows him to measure price movement and market direction inside a bubble,
tuning out the masses who are focused on the same fundamental views, and deciding their investments accordingly.
Case in point, the worldwide stock market decline of 5/29/18, as potential panic gripped the world markets
became a new found concern of an Italian Debt Crisis.
Mr.Rivest's post above, simply and correctly labeled a quick correction back to the 2690 area, (lower on 5/29 to 2676)
as a buying opportunity, and labelled it as the start of a potential next leg up in the S+P.
Mr.Rivest continues to separate himself from the crowd, and I have seen him make some brilliant market LONG
calls in the face of mass panic.
The 5/29 shakeout in world markets could have been a colossal " Bear Trap " Only time shall tell.
Hi Thanks for the compliment.