We might well have seen the top of wave 2 with the 1,156.80 high today. That was just 1.2 points below the ideal target at 1,158.With the break above 1,150 the triangle was fulfilled, whats needed now is a break below 1,122 to confirm the top.
Looking at the same chart in a close-up we can see the resistance-line of the channel (grey) tested perfectly. The decline since the high at 1,156.80 is a nice 5 wave decline (see the 5 minute chart below), which does raise the probability of the 1,156.80 high being the end of wave 2 but we need a the current rally to stall i the 1,145-1,149 for a decline below 1,122.
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