With the SPX breaking it’s January Highs, we have to consider that the Grand Super Cycle Wave III that started in 1974 is not done. If that is the case, we aren’t in the Super Cycle Wave V yet. The rally up from the February lows has way too much overlapping. Like a broken record I continue to point out that wave 4’s and wave 2’s can’t trade in the same price range. When this happens, you know you are dealing with some sort of correction.
I’m showing the correction since January as a Strong B-Wave Flat, but until price actions starts dropping through support levels, the C-wave hasn’t begun, and could easily trace a different pattern, like an ending diagonal triangle we are seeing in the Naz-Dogs.