S&P

While Europe leads the way lower for equities it is possible that US stocks make one more leap higher as the S&P shows an expanding pattern near the highs, with each of the moves within the triangle being 3 waves each as required. So for wave e up to complete it requires one more push higher towards 2125 on the S&P before we expect a trend reversal. This does not mean that prices cannot decline from current levels but this is a possible outcome.