Charts 11-08: Most bearish case possible from this crazy tape

My good friend Matt_Bear suggested that this manic Friday rally was a leg of a triangle.  So even though we have blown a perfectly good key reversal daily candle on the SPX, we still may be setting up for another exhaustion move.

Here's how the triangle here would work:

SPX 11-08 with 4th wave tri

An impulse follows the completion of a symmetrical triangle; I'll propose that it will target 1798, where we will rollover again:

SPX 11-08 6M

You could count these final waves as an ABC from 1560, or as an ending-diagonal that started at 1627, either way -- they both point to 1798.

Which sets up the larger catastrophe, the 2008 tape x about 1.35:

SPX 11-08 5Y

Which looks like this on the really long timeline:

SPX ALL

So the first order of business is to finish the rest of this proposed triangle this week.