30-minute M/A has not been broken. The 30-minute close was 1333.75, must be 1333.25 or lower.
Chart traders are short on the breakout from the triangle. However, an Elliott triangle is not like Edwards and McGee. The requisite 5 waves are complete and Elliott only allows an upside resolution, even though the 5th wave exceeded the low of the triangle formation. Rallying from here would hand the chart traders a loss and be ideal for the larger traders to score. Until 30-minute close at 1333.25 (preferably below) I'm sceptical.
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