S&P 500

S&P 500 could have topped and needs to break the 20dma at 2761 on closing basis to add to this possibility, however as an alternate we cannot rule out that the dip is wave iv of c and wave v of c as one more push higher is pending. In Jan I did think the sideways pattern till 29-01 was corrective and maybe a triangle. So if I stick with that and mark it as wave b it will take one more move higher before we get a final reversal from US indices. It may coincide with the so called trade deal.