Red wave iv might have turned into a small triangle. We should see a thrust out of the triangle very soon. As I count this as a minor wave iv we should see the thrust to the upside for a quick move towards at least 2,031. All that said a break below support at 1,761 will invalidate the triangle count for a move down towards 1,665.
If my long term count is correct (the upper chart) we should be entering the final rally in the uptrend that began in 1999.
As I said yesterday this last rally could easily be moon-shoot rally, but the faster and the higher we rally, the faster and deeper the following decline will be.
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