S&P 500 - Is an Expanding triangle top forming?

After the break above 1,312.82 the ideal target-area for wave 5 is the 1,360 - 1,380 area (closer to 1,360 than 1,380). Looking at the latest price-action an Expanded triangle could well be forming calling for a possible top soon. It's not unusual the see the triangle resistance-line broken before exhaustion finally sets in. A break below 1,311.79 would be the first real sign of exhaustion, but a break below the triangle support-line at 1,285 is needed to turn the trend around.