Weekly preview

It seams like a-b-c correction lower completed and now the next leg higher, but if you look other indices like DJ,SPXEW it is more likely a-b-c correction higher and 10w high with reversal lower to follow.


TRADING
Trading trigger - buy signal.
Analysis - long term important top it could be 4y cycle high. Intermediate term turn 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 - it looks like a-b-c lower and now higher, but I think it is in fact a-b-c higher(red) and next is lower.

Intermediate term - the first target should be MA200 and support in the 5600-5700 area.

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 higher.
McClellan Oscillator - cclose to overbought.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
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 - multiple divergences.


HURST CYCLES
Short term cycles - expect 20d high it could be 10w high too.

Next important low should be 40w low - earliest in March or it could stretch until May.