Weekly preview

The October gains wiped out in one day. The high was in mid-October well visible if you look at DJ/NYSE and again tech strength masking it.
Next week we should see a low(5w low) then higher into mid-November(5w high), lower low early December(20w low) then higher for the holidays(20w high). This is what the cycles are showing.

From the 2022 low we have a double zig-zag completed - well visible if you look at DJ/NYSE. From cycle perspective one 40w cycle is missing for 4y cycle high..... the next few months will confirm or not if this is THE top.


TRADING
Trading trigger - sell signal.
Analysis - long term important 4y cycle high. Intermediate term 40w cycle high and lower into 40w cycle low.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - so far a-b-c or 1-2-3 lower, too early to make conclusions.

Intermediate term - the Y-wave should be completed. According to cycles this is the path(NOT SIZE) we should see until the end of the year.

Long term - double zig-zag(from 2020) for y/B at 9y cycle high 2000-2007-2015-2024.

MARKET BREADTH INDICATORS
Market Breadth Indicators - moving lower, no oversold levels so far.
McClellan Oscillator - deep below zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - moving lower.
Percent of Stocks above MA50 - moving lower.
Advance-Decline Issues - moving lower.
Fear Indicator VIX - moving higher.


HURST CYCLES
Short term cycles - next week we should see 20d/5w cycle low then higher into 5w around mid-November.

With two red weeks in a row the 40w high should be in. Next we should see 4-5 weeks lower and 20w cycle low.