S&P 500

Whether to mark this complex structure B or 2 is a debate for another day. But all the moves are appearing corrective and the new short term high in S&P makes it look like a wedge or triangle. Triangles occur as final structures or before final moves, and therefore this should be the last push up in wave (c) of B. The upper line of the wedge is at 2761 as the best case scenario for S&P, after which we should be looking at wave C down to new lows. Already retraced 78.6% today so that final push is not needed and we could peak here as well. C=A down points to 2450 or lower.