Above is a 2 minute chart of the S&P 500 index. Prices continued sideways today before a rally near the end of the trading day. It appears that (iv) was actually a triangle that just completed today. So tomorrow, or at least the first half of tomorrow, should see a continuation of the rally.
In my estimation a significant top will come tomorrow around the 1115 or 1020 areas. These are the two areas with noticeable Fibonacci confluences using waves within [v]. The blue level is found by taking the widest part of the (iv) wave triangle and projecting it from the end of e of (iv). Oftentimes the impulse following a triangle reaches this level and no more. This result was seen back in June 2009.
Do not expect wave (v) to be long lived. Wave (iv) was wide but oftentimes the impulse following triangles is just a short burst upwards. Again, see the link above.
Following the wave (v) of [v] top, look for clean impulsive waves moving lower.
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