There are now enough waves in place to consider that Minor 2 of (3) is complete. The SPX poked above its prior Minute [iv] of 1 price peak, and the Wilshire 5000 did not. Sometimes that slight divergence between the 2 indices is telling. We shall see.
However, timewise and pricewise, it would look better if Minor 2 advanced a bit higher in price.
We’ll call wave [b] a running contracting triangle. [c] = [a] @ higher prices.
Oversold has been well worked off setting the market up for a massive plunge. To fulfill the positive RSI divergence prices would have to go above Minute [iv] of 1. The SPX did today the Wilshire did not.
