Trading trigger - buy signal.
Analysis - long term topping process for important high 4y cycle high. Intermediate term higher into 40w cycle high.
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 wedge in the final wave.
Intermediate term - it looks like complex pattern for the Y-wave.
Long term - double zig-zag(from 2020) for y/B at 9y cycle high 2000-2007-2015-2024.
MARKET BREADTH INDICATORS
Market Breadth Indicators - turned lower.
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 - in the middle of the range.
Fear Indicator VIX - in the upper part of the range.
HURST CYCLES
Short term cycles - shorter 20d cycles to fit the pattern. Alternate at 20d high with one more for important top.
Higher into 40w high the fifth one for the current 4y cycle high.... it is mature, maybe it has one more 20d cycle or not.
Thanks Krasi
ReplyDeleteDJI shows more clear the pattern and cycles - https://invst.ly/16t8zh
ReplyDeleteEnd September could be 10w high
ReplyDeleteI do not think so
Deleteare you short anything? how are you playing this? or waiting for confirmation?
ReplyDeleteYes, short the DAX. Building position 1/3 now, 1/3 break below MA10 and 1/3 after lower high testing something MA/trend line/support resistance.
Delete5870 s&p where is there pullback?
ReplyDeleteKARSI! how about SPX? are you short it too?
ReplyDeleteK-R-A-S-I .... it's not that difficult.
DeleteNext week pattern and cycles should be completed.
Delete