S&P

S&P counts as a completed 5 wave rise, but till we get a trend reversal by breaking the rising channel we do not have a confirmed reversal. Wave v of 5 may manage a few more extentions or form an ending pattern before it turns lower. But it is not needed. Sometimes prices will just turn lower but that is rare. But are in wave 5 so pay attention.

On a long term basis the recent high of S&P hit the parallel channel for the 2011-2016 bottoms on an arithmetic scale.