S&P 500 Index: Triangular Consolidation (Alternative But Viable)S&P 500SP_DLY:SPXaibekone of readers hinted at this alternative but viable scenario under my earlier post today In this case, wave 4 could be a triangle ABCDE it is already fully completed and moreover the bullish trigger was pulled as peak of wave D at $7,551 was overcame Target is in the blue box at 38.2-61.8% Fibonacci ratios of waves 1-3 between $7,918 and $8,226 Invalidation is close tight at the valley of wave E below $7,422