S&P 500

The S&P is now making all time highs ending the inter market divergence that was a long term bearish signal. The triangle formation then was a 4th wave and we try counting wave 5 up. In this case wave 3<1 and therefore wave 5 would not be larger than wave 3. We are in iii of v so iv and v down and up are pending before a 5 wave advance can be said to be complete.