Weekly preview

Lower as expected, it should continue for anorher 1-2 weeks.
From the October.2022 low we have intermediate term low every two and a half months overall four times. I think this are 10w lows, the last one in mid-August. So I expect 10w high the second half of September and 10w low the end of October.


TRADING
Trading trigger - sell signal.
Analysis - the indices turned lower to complete the 4y cycle. Intermediate term - higher into the second half of September.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - I expect zig-zag lower now in b/B.

Intermediate term - some kind of w-x-y/B or a-b-c/B, at the end only the labels are different. Now turned lower and most likely the C-wave is running.
Alternate this current move up is impulse to complete 5/c/B.

Long term - most likely huge double zig-zag from the 2009 low. If we are lucky this is lower degree b-wave(green) and there is one more high. If not multi year decline has started.

MARKET BREADTH INDICATORS
Market Breadth Indicators - turned lower, but I think it is short term.
McClellan Oscillator - below zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - turned lower.
Percent of Stocks above MA50 - turned lower.
Advance-Decline Issues - turned lower.
Fear Indicator VIX - up and down... long bottoming process.


HURST CYCLES
Short term cycles - I think we should see 20d high followed by 5w low.

Week 9/3 for the 20w cycle. Visually I expect 18m cycle consisting of three longer 20w cycles(week 3 of the third). On the chart above I will stick to the theory and count four 20w cycles(week 9).
The highs do not have average length too. I think we have 4y cycle high consisting of 2 cycles instead of 3x18m cycles like the previous one 2018-2022 with a high in the middle.