Trading trigger - buy signal.
Analysis - long term important top it could be 4y cycle high. Intermediate term at 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 - now we have the usual double zig-zag.
Intermediate term - complex wave Y... and now we have completed pattern for y/Y as always another double zig-zag.
Long term - double zig-zag(from 2020) for y/B at 9y cycle high 2000-2007-2015-2024.
MARKET BREADTH INDICATORS
Market Breadth Indicators - weakness and divergences, but no turn lower so far.
McClellan Oscillator - around zero.
McClellan Summation Index - buy signal with divergence.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - around 70 with divergence.
Percent of Stocks above MA50 - turned lower with divergence.
Advance-Decline Issues - divergence.
Fear Indicator VIX - divergence.
HURST CYCLES
Short term cycles - at 5w high next is turn lower into 5w low. This should be 20w/40w high.
Week 36 for the 40w high - in the upper range of the time band which is average 32-36 weeks.
Thank you! As long as px don’t close below the election gap there is no reason for bears to get excited imo.
ReplyDeleteSPX and NDX with wedges, which usually retrace to the starting point.
ReplyDeletehttps://invst.ly/17xmdv
https://invst.ly/17xmeo
That means 5200 for spy?
ReplyDeleteYes, and this is 38% retracement from the October.2022 low so it is a target with high probability.
DeleteWhy do you expect depression/recession?
ReplyDeleteThe system does not work anymore and needs restart.... and the powers that control it need chaos to push their agenda.
Delete