Ending diagonal or wave (iv) of [v] triangle? For the SPX and DOW, I think the ED works well. the NASDAQ may be in a triangle.
Either way I'm not going to get too worked up about it all as both patterns imply we are near the top of Minor A.
So whats the difference between and ED and a potential triangle? I think an ED could be a pump and dump. An Ending diagonal can collapse hard and rip the bulls' faces off at least for a day. I smell a day like that coming. The MM's have had their way with shorts and I see the CPC is again low so we are due for that B wave pullback.
If its another wave (iv) triangle, then this thing could take 980 and using it as support, launch a run higher up into the low to mid 990's, perhaps an assault on 1000.
So the difference between an ED (pump and dump) and a triangle (5 more small subwaves to a peak and it could run for another day or so) is in the degree and price targets.
I see lots of negative divergence happening so I lean toward a quick pump and dump ED scenario. But be aware of both patterns.