Weekly preview

Get ready for intermediate term top. Finally the move from the October low is close to completion after 6 weeks doing nothing - the indices are at 20w high, the final squiggles completing a-b-c expected next week, indicators and market breadth with divergences.
The final 20d cycle high is running the usual length is 9-12 days currently at day 8 so next week between Monday-Wednesday we should see the high.


TRADING
Trading cycle - buy signal. We have three closes below MA10 and RSI broke below the trend line/the MA. According to my rules this is one daily cycle or 10w cycle. This is another hint why I think this is 10w low not 5w.
Theoretically this price behavior is very bullish after strong right translated cycle another strong one should follow. But I think this is the same setup like Jan-Feb this year - the next cycle should make higher high just to fail and turn lower. At least this is what should happen according to the other tools.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - the final subwave for C is near completion. For me this is diametric completing the C wave of a zig-zag.
DJ/SP500 are weaker, but if you look NYSE you will see c=0,618xa and RUT c=a so it is a time for a high and reversal.
NYSE makes low and the cycle low is at the yellow f so watching for zig-zag g yellow. If the market decides to pull something really complex than the white f is the low and g itself is a diametric the white squiggles.
Confirmation that g is completed is move below MA50/support. Confirmation that C is completed is move below MA200/support.

Intermediate term - the indicators with perfect setup long and short term divergences warning for a high.
Neowave pattern symmetrical completing at 18m high looks good. Classical EW pattern should be W-X-Y with the catch that there is no impulses.
Alternate this is the top, I do not believe it much. In this case the last move up should be retraced in less time like 3-4 weeks.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle.

MARKET BREADTH INDICATORS
Market Breadth Indicators - the same like last week, short term divergences, the indicators no do not follow higher.
McClellan Oscillator - weak around zero not much reaction to this week move up.
McClellan Summation Index - buy signal, flattening.
Weekly Stochastic of the Summation Index - buy signal, flattening in the overbought area.
Bullish Percentage - short term double divergence.
Percent of Stocks above MA50 - looks like double top.
Fear Indicator VIX - divergence.
Advance-Decline Issues - not reacting to the upside and moving lower.


HURST CYCLES
Short term cycles - my intuition tells me have 10w low not 5w and the cycle setup for the high looks exactly like Jan-Feb this year with the difference that the cycles are one degree lower. Adjusted accordingly the count on the chart.
The current 20d cycle high is 8 days long so next week we should see the top for the move from the October low.

Week 7 for the 20w cycle. Mature 20w cycle high 16 weeks long and time for reversal into 20w low.