Weekly preview

Nothing new - the SPX looks like impulse probably in iv/5 and around FOMC v/5 should complete the pattern from October 2022.
NDX/SPX look stronger because of NVDA stock but it is at major top. The other indices with weak retracement and overall divergences daily,weekly,monthly for all indices.


TRADING
Trading trigger - buy signal, another extended cycle at the length where we see reversal.
Analysis - important top 18m high, which could be the price high for the 4y cycle.
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 the late stages of a fifth wave. iv/5 should be running and v/5 around FOMC...

Intermediate term - some kind of topping pattern testing the top with RSI/MACD divergences on all time frames daily/weekly/monthly.

Long term - 4y cycle high the end of 2021, now a-b-c lower into 4y cycle low. Alternate this is the top of wave-B from 2009.

MARKET BREADTH INDICATORS
Market Breadth Indicators - weak with divergences.
McClellan Oscillator - below zero.
McClellan Summation Index - sell signal with double divergence.
Weekly Stochastic of the Summation Index - sell signal with double divergence.
Bullish Percentage - in the middle of the range.
Percent of Stocks above MA50 - in the middle of the range.
Advance-Decline Issues - in the middle of the range.
Fear Indicator VIX - sligthly higher low.


HURST CYCLES
Short term cycles - again it looks like extended 10w cycle near completition with 6x20d/3x5w cycles.

At 18m high, the cycles 10w/20w/40w deviate from the usual length... if the indices continue with this rhytm we should see 18m low short before the US elections.