S&P 500 - Skewed Triangle thrust

The thrust up from the skewed triangle lookes good. We are currently looking at wave iv, which could drop closer to the 1,212 - 1,213, before the last leg higher towards the 1,242 - 1,246 area. As wave v progresses it should be a major sell as a decline to at least 1,160 should be seen, but I would expect it to be even deeper than that.