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Member’s Video for Monday, April 30th, 2018
We’re going to operate under the assumption that the index triangles are complete, but keep in mind those B-wave the 4th-wave triangles often last longer than expected. Proceeding bullishly, but with caution.
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Todd,
Regarding the SPY wouldn’t you call the triangle and contracting symmetrical triangle? If yes, then shouldn’t the final E wave have another lower leg touching the lower slope trend line (connecting 2/09 and 4/02 lows) or at least touch 78% from the 4/02 low to the high on 4/18? In previous charts you had drawn an ABC structure where the A began on 4/25 and B would be around 267.30 which is 61.8% from 4/18 high to 4/25 low. Then the C wave would go down further. Now it appears you removed it. What or where was the point that negated the ABC structure? Thank you.