As of 11/26/2021
  Indus: 34,899 -905.04 -2.5%  
  Trans: 16,216 -610.57 -3.6%  
  Utils: 907 -15.90 -1.7%  
  Nasdaq: 15,492 -353.57 -2.2%  
  S&P 500: 4,595 -106.84 -2.3%  
YTD
 +14.0%  
 +29.7%  
 +4.9%  
 +20.2%  
 +22.3%  
  Targets    Overview: 11/12/2021  
  Up arrow38,000 or 35,000 by 12/01/2021
  Up arrow17,700 or 16,000 by 12/01/2021
  Up arrow935 or 890 by 12/01/2021
  Up arrow16,400 or 15,350 by 12/01/2021
  Up arrow4,850 or 4,560 by 12/01/2021
CPI (updated daily): Arrows on 11/17/21
As of 11/26/2021
  Indus: 34,899 -905.04 -2.5%  
  Trans: 16,216 -610.57 -3.6%  
  Utils: 907 -15.90 -1.7%  
  Nasdaq: 15,492 -353.57 -2.2%  
  S&P 500: 4,595 -106.84 -2.3%  
YTD
 +14.0%  
 +29.7%  
 +4.9%  
 +20.2%  
 +22.3%  
  Targets    Overview: 11/12/2021  
  Up arrow38,000 or 35,000 by 12/01/2021
  Up arrow17,700 or 16,000 by 12/01/2021
  Up arrow935 or 890 by 12/01/2021
  Up arrow16,400 or 15,350 by 12/01/2021
  Up arrow4,850 or 4,560 by 12/01/2021
CPI (updated daily): Arrows on 11/17/21

Bulkowski on the Reverse Symmetrical Triangle Elliott Wave Pattern

 

This page describes the reverse symmetrical triangle pattern of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.

 

The reverse symmetrical triangle in a bull market. The figure to the right shows what a reverse symmetrical triangle looks like in a bull market. The reverse symmetrical triangle is a region of horizontal price movement, a consolidation of a prior move, and it is composed of "threes." That means each of the A-B-C-D-E waves have three subwaves. I labeled the B subwaves with red numbers, 1, 2, and 3, as an example.

In a reverse symmetrical triangle, the shape of the pattern follows two diverging trendlines, shown here as red lines. A reverse symmetrical triangle is more commonly known as a broadening top or broadening bottom. According to Frost and Prechter, "There are no variations on the rarer expanding triangle," which is another name for the reverse symmetrical triangle. I have not looked for the 3-3-3-3-3 combination, but I do know that other broadening patterns exist. Check out: right-angled broadening top, ascending, right-angled broadening top, descending, broadening wedge, ascending, and broadening wedge, descending.

 

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The reverse symmetrical triangle in a bear market. A reverse symmetrical triangle in a bear market is an inverted picture of a bull market triangle. The price action swings from trendline to trendline, and diverges. The A-B-C-D-E waves subdivide into threes, forming a 3-3-3-3-3 configuration.

 

Reverse Symmetrical Triangle Rules

The reverse symmetrical triangle has rules that govern its shape. They are listed here.

-- Thomas Bulkowski

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See Also

 

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