A neckline breakout. No sellers this week as its holiday time. Sideways trending may be the name of the game.
..and of course challenging the channel line. By the way ignore the count, its not my primary count but I left it up from last night just to show you the extreme bear option.
Sneaky bulls. They attack the Inverse H & S formation from a side angle so as to lull you to sleep. And they do it in a stealthy leading diagonal-type move. Tricksy.
And this is the overall Wilshire 5000 stocks. The blue channel is interesting. If its a wave iii coming down then it will try and make it to the lower blue channel line.
Bears have to watch out though for the stealth contracting triangle shown in dotted black lines. Its not a strong triangle formation but it would mean new highs for the Wilshire nonetheless. And stealth triangles usually work best too. A break under 11180.37 eliminates the triangle.
SPX trying to form an inverse H&S. Target would take it close to its 1113 high.
That big green bar has been retraced in full.