Weekly preview

NYSE and DJI catching up this week. This is the final wave c/B there will be no pullback and higher for a zig-zag. That is all for the B-wave probably one more 20d cycle for 2-3 weeks... or it just turns lower next week all this at mid-4y cycle high two years after the 4y high.
The first week this move started I wrote this wave behaves like final c-wave not like a beginning a-wave or correction b/2-wave. Now it is clear why - because it is c-wave. The pattern is shown on the daily chart - it has high probability because it works for almost every US index... just NDX is a little bit different.


TRADING
Trading trigger - buy signal.
Analysis - final wave completing the correction and turn lower to complete the 4y cycle low. Intermediate term high in 2-3 weeks.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - it looks like impulse but I doubt it. I would say it is a double zig-zag and next week we should see completed a-wave and b-wave from the second zig-zag. If not it is a simple zig-zag makes a high next week c=a and it is over.

Intermediate term - I do not expect zig-zag to complete B anymore - this is the final wave c/B. We have a-b-c/B with complex b/B wave - SPX looks like expanding triangle but if you look NYSE or DJIA it is a running flat. This pattern works for almost every index.
Alternate the B-wave started earlier in June.2022 which does not change much... only b/B is bigger.

Long term - 4y cycle high the end of 2021, now a-b-c lower into 4y cycle low in Q1 2024.
Very 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 - pointing higher and overbought, there is some long term divergence... wait for a turn lower.
McClellan Oscillator - divergence.
McClellan Summation Index - buy signal, long term divergence.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - close to overbought.
Percent of Stocks above MA50 - overbought.
Advance-Decline Issues - close to overbought, long term divergences.
Fear Indicator VIX - testing the previous low.


HURST CYCLES
Short term cycles - we have shallow 5w low, now the fourth 20d cycle is running. The last 5w high counts better as extended so one more 20d cycle looks better, but it is not a guarantee - we have four 20d cycle for a second 10w high and 20w high.

Week 5 for the 20w cycle. Rising into 20w cycle high currently at week 18 discussed above.
Long term the previous 4y cycle high is repeating - 3x40w cycles/two years for mid-cycle high(2018-2019 / 2022-2023) and down into 4y low.