The 07/09/26 blog “Prelude to New Highs? – July 2026” illustrated that the S&P 500 (SPX) after the 06/02/26 peak may have formed an Elliott Wave – Horizontal Triangle.
The chart from that blog courtesy of Trading View is shown below.
As it turned out the Horizontal Triangle was still developing.
The hourly SPX chart up to the 08/04/26 illustrates what happened.
After the completion of Horizontal Triangles there’s usually a thrust in the direction of the main trend which in this case is up.
Usually, the length of the move after completion of a Horizontal Triangle is measured by the widest part of the triangle, in this case it’s the length of Minute wave [a].
Minute wave [a] was 383.05 points added to the bottom of Minute wave [e] of Minor wave “4” at 7,399.82 targets 7,782.87 as the termination point for Minor wave”5”.
This price target could be reached on 08/05/26.
Four Dimension Trading 