S&P

World markets have everyone concerned and they should as they sell off from extreme readings. An RSI of 80 on Europe and sentiment at 90% for US. But many of these things have given only short term corrections in the past. The wedge in the S&P is increasingly a running triangle as shown below. So wave 5 just started to form. Is it over or will it subdivide is the question in my mind now. Will it further break up into 1-2-3-4-5. We should get an answer soon, I am open to this alternate right now but keep watching for some time as evidence is developing. What does the falling dollar suddenly mean I am looking for an answer?