Update

The same like last week waiting for some clarity in the next few weeks. The indices are at least at 40w cycle high.
Other asset classes are ready for big moves too... like EURUSD for example close to 18m high or BTC with similar pattern.

Update

Around the end of the month we should see 5w low and the first half of September 5w high.
All indices show impulsive declin, usualy it means more to the downside.
The most simple pattern is we have a top with daily/weekly and market breadth divergences, but until we see the next low and high for confirmation you can still speculate that something else is developing.

It is taking too long so more likely this is the top not B wave.
Trying to find bullish pattern - flat correction a-b-c red or with more downside and high in September ending diagonal 1-2 or expanding ED C-wave... very low probability.

Update

Nothing happened this week so nothing new - waiting for c/B to be completed. If you use Fibo measurement target is around 7850. Reminder if it is not a B wave it is THE TOP.

Mature 10w and 20d cycle highs early next week expect the top. Again if it is corrective a-b-c pattern around the end of the month we will see 20w low. If not decline starts and it will continue until the next 20w low in November.

The DAX is ready for a top too with ending diagonal and divergence.... no no this is a bull flag.

Update

I still think the most likely pattern is b-wave... and this is the bullish outcome. If this is wrong we are seeing what should have happened in September - completed sideways correction 4th wave and now the final 5th wave. No it is not just starting it is finishing just look the indicators and market breadth. Good luck to those who bought break out from "bullish flag".

You have impulse in final stages. What could it be - the c-wave to complete bigger b-wave, the fifth wave of a bigger pattern, or i/5 of a bigger pattern. The only bullish pattern is the last one.... for a few weeks longer, but looking at indicators market breadth and other indices this is not the most likely outcome.

If you think such b-wave is strange/rare/bullshit - just look at the previous two tops one more 10w cycle before the sell off begins.

This is if the b-wave is wrong - short said it is over... and with this wedges looks great. Ask the TA "expert" what happens with wedges.

Market Breadth - if it is the beginning the indicators and market breadth will reset and turn higher, but the opposite is happening - simple it is a top.
McClellan Oscillator
McClellan Summation Index
Weekly Stochastic of the Summation Index
Bullish Percentage
Percent of Stocks above MA50
Advance-Decline Issues
Fear Indicator VIX

Update

The pattern is on track, fake break lower on FOMC day before completing the e wave of a triangle two months after the correction started for 10w high. Now when everybody is convinced that the correction is over C wave will follow and a low two months after the first decline to complete 10w/20w low.

Visual the cycles, because of the triangle the current 10w cycle does not divide in 2x5w cycles - it looks more like 20d-5w-20d sequence.