Dow made one more new high yesterday before selling off badly. What happened. Last week I posted that S&P in wave 5 was forming a triangular pattern and concluded that after showing different possibilities it ended up as an ending diagonal and a 5 wave decline formed. So the last 2 days I was waiting for a bounce in wave ii for Dow but it made one more new high. The chart shows below that once again the pattern in wave 5 has morphed itself into another animal within the triangle space, an expanding triangle. Now it should be complete in all respects and then that means that a merciless crash may have started in the US stock market. Dont expect any more upside from there. The red markings below show the failed wave count and blue the new ones.