Trading trigger - buy signal.
Analysis - sell the rips, long topping process.
P.S. - for a trade both analysis and trigger should point in the same direction.
TECHNICAL PICTURE and ELLIOTT WAVES
Short term - with so many overlaping zig-zags there is a lot of room for interpretation. One option is double zig-zag from the May low consisting of 4 zig-zags with simmilar reactions in the middle. The other options are shown on the daily chart.
Intermediate term - from the March low we have one big zig-zag consisting of two zig-zags, which itself consist of zig-zags. You can call it W-X-Y, but there is no impulses. Another option is zig-zag from the March low and c/C/Y as an ED(green). Some are watching big ED C/Y from the March low(red). RSI/MACD with multiple divergences, it looks like we have mature pattern what ever it is.
Long term - topping process running for months and maturing. Some kind of b-wave and c-wave will follow.
MARKET BREADTH INDICATORS
Market Breadth Indicators - no change, intermediate term decline is expected.
McClellan Oscillator - reset from sligthly oversold level.
McClellan Summation Index - sell ignal.
Weekly Stochastic of the Summation Index - trying to turn up.
Bullish Percentage - lower high, below 70.
Percent of Stocks above MA50 - double top below 75.
Fear Indicator VIX - another higher low.
Advance-Decline Issues - weak did not move above the zero line.
HURST CYCLES
Short term cycles - nearing 20d high it could take another few days after that is decline into 20d low.
I think the best fit is the indices are at 20w high, then decline into 40w/18m cycle low with one extra 10w cycle. This is the missing 10w cycle from last year.
Thanks for your response on gold last week. I had looked up your previous charts and I meant to ask about your short term view and whether this is price reversal to head towards 18m high.
ReplyDeleteYes, I think the pattern into the 18m high is running as some sideways pattern.
DeleteSpeculation at the moment - https://invst.ly/vwruw
This will synchronize gold with the stock indices for a decline in 2022.
The small zig-zag I have shown last week is close to completion NDX - https://invst.ly/vwr3o
ReplyDeleteFrom the March low we have double zig-zag similar to SP500 I do not believe in this EDs.
Looks like it completed, guess we'll know soon enough. Thanks Krasi
ReplyDeleteI am watching DJ/NYSE or final spike after flat or triangle - https://invst.ly/vxid-
DeleteYour prediction about HSI Hong Kong exchange was very accurate (one more low). Thank you! Do you think this was an important low like 4 or 9 year (assuming HSI follows similar cycles) or was it something like an 18 month low?
ReplyDeleteNYSE made higher high - https://invst.ly/vxwi2
ReplyDeleteSP500 has the same zig-zag and Fibo measurement, NDX too shown above, only DJ is lagging.
DJ looks like the triangle is playing out - https://invst.ly/vyeba
ReplyDeleteShort term cycles look like 20d high on Monday with length 10 days and today 20d low with length 11 days.
The markets in the US are closed on Monday for the Labor Day holiday. Trading resumes on Tuesday.
ReplyDelete