The Wilshire5000 broke above the ascending triangle (but only by a few points) which was the only requirement of a triangle configuration. So it can be said that there may be enough waves for a complete pattern. However the SPX did not break above its triangle. The SPX tested 1196 resistance for a third plus time so one has to think that resistance will be broken above that at least for a spurt and the 1197-1202 gap will be challenged or outright conquered for at least a bit.
The challenge of Lehman Day once again.
Remember I suggested the other night when oil breaches $85, stocks have topped in the past year(s) .http://3.bp.blogspot.com/_TwUS3GyHKsQ/TMtKEk1cZQI/AAAAAAAAH8w/7_NAEPPwnz4/s1600/oil.png Oil closed at $84.37.