Weekly preview

The double zig-zag higher was completed on schedule and now watching the move lower. I am not sure we will see a lower low, it looks less likely. At the moment waiting to see how this move lower will develop.
Intermediate term I do not expect a crash worst case should be final low for 18m cycle low in January.


TRADING
Trading trigger - sell signal.
Analysis - long term sell the rips, we have major top. Intermediate term - one more move lower or bottoming expected.

P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - completed pattern higher, now watch for another zig-zag lower.

Intermediate term - one final low for wave A, or alternate we saw the low already... maybe we have triangle for wave-B.

Long term - most likely huge double zig-zag from the 2009 low B-wave was completed and multi year decline has started. If we are lucky it is lower degree b-wave with c-wave to follow.

MARKET BREADTH INDICATORS
Market Breadth Indicators - turned lower, but it is not strong sell signal.
McClellan Oscillator - retracing lower after overbought level.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - turned lower.
Percent of Stocks above MA50 - turned lower.
Fear Indicator VIX - moving lower.
Advance-Decline Issues - turned lower after overbought level.


HURST CYCLES
Short term cycles - this count looks ligical - 5w high and now decline into 5w low next week.

Week 12 for the 20w cycle high. Week three from the last low it looks like 20w low at week 17(average lenght is 16-18 weeks). It is possible that we have 18m low too. Worst case scenario is counting 18m cycle from October.2021 than the 18m low should be in January.