SPX Update: Triangle or Not, This Chart Was a Winner

So, on April 10, I offered the following chart:

Here's what the market has done since then:

As we can see in the long annotation in the chart above, the market does still have some ways to make the triangle (if that is what this is) more annoying.

But either way, I can't really predict a 10 day stretch much better than that.  So whether this turns out to be a different triangle or not a triangle at all, the chart from April 10 is a major win.

Long-term, nothing has changed:

In conclusion, the market's been range-bound for a while, so there's nothing to add to recent updates, and I recommend refreshing your memory of those if need be.  

Note that in the event this is a COMPLETED triangle, then the expectation would be for a rapid drop down toward 4600-4700, then a brutal short-covering rally that takes us right back toward the 5200s.

Trade safe.