10/27/10 - Triangle Update

SPX - 5/23/10

SPX - 5/27/10

I'm reposting this triangle chart since I didn't have access to my StrategyDesk platform earlier when I posted the EOD update.

The top chart was posted on Saturday 5/23, Weekend Thoughts. When I posted that chart, I speculated on how we would arrive at this triangle.

I didn't get a chance to look at this exact chart at EOD and posted with TOS earlier tonight. Take a look at the end result. Coincidence? Man that's pretty cool.

Earlier I posted that [D] may retrace 61-81% of [C] but it can very well travel back to the beginning to form an ascending triangle as speculated in the first chart above.

Anyway. I know this post is redundant but wanted to stress that perhaps this is what the market wants to do.

I just wanted to add some channel support

4/2/10 - SPX TRIANGLE OPTIONS

Option 1

 Option 2

This is a continuation post from this AM. Just so there is no confusion, I have two options for the triangle count. I favor the top chart at the moment.

However, what this impending end represents is a whole different story. We'll work on addressing that once we find a top to this leg up.