Browse Symbol Stacks: SPX: Weekly canles suggest more downside ahead.png

Notice the weekly candle formation for some of the major indices. This is also my current view of what I see as a large A-B and soon to come C topping pattern.  
For the 2 of you who like EWT: EW describes that is can happen at the end of a long exhaustive rise that the final 5 waves up is a rising triangle composed of overpapping 5 a-b-c waves. Sort of a transition form 5 wave implustive sequences to 3 wave a-b-c correction patterns I suppose. That is what appears to have happened in all these major indices (to me). All the back and forth action since last August looks to me like A-B action as you would expect in a major correction. IFFFF correct when the C down wave starts is most likely will be faster and of greater magitude. Take care. Have a great week.