![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIPrNB2hJlD6PL93ZuLWQ5fHazcFT0uX8VCqaTKboSvDjfKMwaUJR1nDMMXSLQcgxDgejQvYIUvnj65lybzojML9Y5Smr2zNhTkOuhd-OJZx7xDVtqnz7l3Nt-852UKu0smN3KKGYb3S9C/s320/count1104.png)
I was expecting the market to gap up in a W3 Ascending Triangle break out and it did so in full force. All the technical pattern targets I had been posting for days were reached today. I think it's funny how 1196 held for weeks and next thing you know we have a 20+ point close above that. Anyway, I see the 5 wave pattern done or close to being done before going into a correction to the 1200 area and then another launch higher to the 1234-1250 area in a W5 (If there is a 5th wave left). The market is now equal in length to the Feb-April wave and the only difference is that we are at 9 weeks vs 10 weeks on that rally. So once we have time and price satisfied, we should see a turn. But as I tell myself everyday, as long as that number I put up on the right hand side of this blog does not get closed under the trend is UP.
I went short at 1213 today without stops and I am holding overnight short positions.
Time and Price Relation![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrlqJ0YEzNkPFUBqxwxEPGI75hVOEhvLvKJ5Xp7OVvRIHM8tZ9LaAArS6GZKRXkk7ARdpLc46UvLH3iEHyDyQvxIGZd-P4eIew2z1HyvXIY7nTJ8LpNM-PSi7fD5ROY0GH2MOBNkP5_q9U/s320/count1012.png)
Now that we are testing 1219, I think we are close to the top of the rally from 1041. I posted about a month ago that there were similarities in the Feb-April wave in time and price and that there was m
ore upside to come. And now that the price element has been reached, we have the time element left. It's hard to call a top when the trend is clearly up but my guess is that we will find a top between here and 1235.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEbCw_6jU6owgC63U4uJos-qC081E2WHBLF6zRB4kIlgyol2x5DaFIEY3VEM5i3XSHz-9zm1Lt7AEawoFnxCTNdpCuxDFCnS48AxfSDqni1MWsEkdHho5axJKutVf6OxtFJ7HaKYl654fB/s320/timeandprice.png)
Feb-April rally was 175 points and 10 weeks in duration. The current rally is 177 point and 9 weeks in duration.