Nevertheless I'm posting the possible triangle count I mentioned on Friday:
If the SPX rallies over the possible wave [c] high this triangle becomes invalid.
A test of 1150 seems likely then.
The count above concures very well with the 1987 fractal:
There are many longer term counts possible at the moment. Some say the bear market has resumed and are expecting a big crash coming week and others believe that the rally will continue from these levels. I won't commit myself to either the bullish or bearish scenario. It's just too early to certainly know whether the bear is back again or not. When I'm looking at the charts I can see many such sell-offs in previous bull markets.
Hope the next few days will clarify the situation a bit.
Have a nice week!
