Weekly preview

a-b-c higher as expected and now something lower. Idealy this decline is b-wave and the correction continues to complete 20w high. Alternate the indices continue lower and make lower low with divergence for 40w low.


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - the zig-zag is completed now this should be a b-wave.

Intermediate term - currently I expect test of the MA200 and lower low with divergence.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - nothing new in the middle of the ranges.
McClellan Oscillator - below zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell 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 - turned higher.


HURST CYCLES
Short term cycles - maybe 20d low or early next week.

The indices are in the time band for 40w cycle low, average length is 32-36 weeks.
The perfect 10w/20w/40w cycles model using NDX(the other indices are the same) pretty good length and sequence highs/lows - https://invst.ly/19ql3q

Weekly preview

Some corrective move higher as expected. Short term I think it will take another week or two for this move up to be completed.
Intermediate term - if you look at other indices like DJ,NYSE,SPXEW,XVG the last important high was the end of November and this leg up should be 20w high then one more lower low should follow 20w/40w low... waves 4 and 5 from the November high?

So 1-2 weeks higher then lower low the second half of April to complete the decline from the end of November high(40w low) then higher May/June/July(40w high).


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - corrective move higher, currently in the b-wave.

Intermediate term - currently I expect test of the MA200 and lower low with divergence.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - turned higher, no oversold levels or something to suggest important low.
McClellan Oscillator - above zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - turned higher.
Percent of Stocks above MA50 - turned higher.
Advance-Decline Issues - turned higher.
Fear Indicator VIX - turned lower.


HURST CYCLES
Short term cycles - early next week 20d low then higher. The 20w highs and lows synchronized with other indices like NYSE,SPXEW,XVG.

Possible scenario for the long term cycles.... the indices are in the time band for 40w cycle low, average length is 32-36 weeks.