My last post noted the SPX was close to completing an Elliott wave Horizontal Triangle. I thought the pattern would complete today 9/21/16 in the first hour of trading in the area of 2130 -2135.
The SPX rallied on the open and never got close to the target zone. What happened appears to be a rare nine wave Horizontal Triangle. In this particular pattern the wave "E" subdivides into a regular five wave Horizontal Triangle. That what looks like what happened today.
A post triangle thrust up is probably underway on track to reach the target zone of SPX 2230 -2260 by 9/30/16 -10/03/16. This target was in one of my more recent post. If the SPX reaches this target it could be the conclusion to the bull market that began in March 2009.