SPX C additional - Chart LinkI placed both
bullish and bearish counts on the triangle. bullish view in
green is the low of mid last week was wave e of a 5 wave triangle
and should breakout from here. Bearish view is the bounce last week
is wave e.
that said the pattern looks more bullish
than bearish at this point and price did recover both the 9, 20, 50
MA's on Friday, if it can hold those, would be good
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Posted by matt on 2nd of Aug 2026 at 12:42 pm
SPX C additional - Chart LinkI placed both bullish and bearish counts on the triangle. bullish view in green is the low of mid last week was wave e of a 5 wave triangle and should breakout from here. Bearish view is the bounce last week is wave e.
that said the pattern looks more bullish than bearish at this point and price did recover both the 9, 20, 50 MA's on Friday, if it can hold those, would be good