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 can be a-b-c with the c-wave as a wedge. Maybe a few days to complete the wedge... according to cycles.
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 - mixed signals.
McClellan Oscillator - around zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - short term divergence.
Percent of Stocks above MA50 - short term divergence.
Advance-Decline Issues - in the midlle of the range.
Fear Indicator VIX - turned lower... in a range.
HURST CYCLES
Short term cycles - it looks like three shorter 20d cycles for the 5w cycle high to complete 20w/40w cycle high.
Higher into 40w high the fifth one for the current 4y cycle high. Week 14 for the 20w cycle and 29 for the 40w cycle - close to completion.
Isn't 40w cycle 32-36 weeks long? Wondering if week 29 is too early for the high
ReplyDeleteAdd this week for 30, no it is not too early.
DeleteDAX the same pattern double zig-zag, but much more simple and well visible waves compared to SPX - https://invst.ly/16w1-c
ReplyDeleteThanks Krasi.
ReplyDelete