Weekly preview

The price action looks like weak fifth wave ED to complete impulse from the April low.... probably a-wave of a bigger pattern. In this case we should see b-wave lower into July for 20w cycle low.
Big picture alternate scenarios with impulse are bearish - this is c/Y-wave and we have Y wave as a flat correction or the fifth wave of an impulse completing from the 10.2022 low.


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - it looks like completed pattern from the April low.

Intermediate term - bigger b-wave not just pullback into July for 20w cycle low. In red the alternate bearish scenarios.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - with divergences, expect move lower.
McClellan Oscillator - below zero.
McClellan Summation Index - buy signal with divergence.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - divergence.
Percent of Stocks above MA50 - divergence.
Advance-Decline Issues - divergence.
Fear Indicator VIX - long term multiple divergences.


HURST CYCLES
Short term cycles - 5w high this week and now lower into 20w low.

Long term cycles - 40w low right on schedule and now higher into 40w high.