Weekly preview

The triangle was negated and it looks very messy:) We know that the indices are heading into 10w high, the pattern I think it is B-wave better visible if you look at NYSE/DJI.


TRADING
Trading trigger - buy signal, higher into 10w high confirmed.
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 - not clear..... intermedite term I think it is a B-wave.

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.
Look at NYSE/DJI - from mid-August I see zig-zag lower A and zig-zag higher B all this two months or 10 weeks high-to-high.

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 - turned up.... reversal?
McClellan Oscillator - above zero.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - in the middle of the range.
Percent of Stocks above MA50 - in the middle of the range.
Fear Indicator VIX - in a range for a long time.
Advance-Decline Issues - moving higher, lower high so far.


HURST CYCLES
Short term cycles - for the moment sticking with this model. In the next days we should see 10w high.

Week 12 for the 20w cycle. Long term I am expecting 4 year cycle high. Intermediate term two options and I think the bullish one is more likely:
- bullish 40w/18m cycle low in November with one extra 20w cycle - time adjusting for the missing one from 2020.
- bearish the 18m low was in July which means decline into 20w low only.