Weekly preview

Last week I mentioned the market could decide to pull out from the bag with tricks something really complex and we have it. The short term pattern is diametric or symmetrical with the last wave itself diametric - as complicated as it gets. Holidays the market is searching for a way to extend in time without changing the big picture.... and it has not changed, exactly the same analysis like last week only adjusting the cycle length.
Monday was a warning shot, I will not be surprised to see the last 7 weeks wiped out in just 2-3 days after we see turn lower.


TRADING
Trading cycle - buy signal, which I would not follow. The same story like last week just the cycle length looks much better close to the expected average length. We have daily cycle high and low and with high probability the same setup as in Jan-Feb this year.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - the pattern is a huge mess, the only way I can explain it is either symmetrical(yellow) or we have triangle b followed by diametric(red). The final wave i/g itself is probably diametric - we have a few zig-zags already.
Move below MA200/support will confirm that the pattern is completed.

Intermediate term - nothing new, the indicators with long and short term divergences warning for a high. Neowave pattern symmetrical completing at 18m high looks good. Classical EW pattern should be W-X-Y with the catch that there is no impulses.
Alternate this is THE top. I do not believe it much, but if we see the last move retraced in less time like 3-4-5 weeks we have reversal.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle.

MARKET BREADTH INDICATORS
Market Breadth Indicators - trend following indicators are joining to the oscillators and turning lower.
McClellan Oscillator - around zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - pointing lower, but still above 70.
Percent of Stocks above MA50 - moving sideways making lower highs, but still above 75.
Fear Indicator VIX - short term divergence.
Advance-Decline Issues - weak around zero.


HURST CYCLES
Short term cycles - most likely we saw spike lower into 10w low and now heading into 20d high. Nothing changed the same setup just shifted one week and the cycles have better average length. Again expecting the same setup as Jan-Feb this year, but this time the cycles are one degree lower.

Week 8 for the 20w cycle. The indices are at 20w cycle high and next is the down phase for the 20w low-to-low cycle.

Tom Demark SEQUENTIAL AND COUNTDOWN - this technique spots areas of exhaustion.
Next week is possible 9 of a setup. In the previous two occasions it marked the high - the two 20w highs.

Weekly preview

Get ready for intermediate term top. Finally the move from the October low is close to completion after 6 weeks doing nothing - the indices are at 20w high, the final squiggles completing a-b-c expected next week, indicators and market breadth with divergences.
The final 20d cycle high is running the usual length is 9-12 days currently at day 8 so next week between Monday-Wednesday we should see the high.


TRADING
Trading cycle - buy signal. We have three closes below MA10 and RSI broke below the trend line/the MA. According to my rules this is one daily cycle or 10w cycle. This is another hint why I think this is 10w low not 5w.
Theoretically this price behavior is very bullish after strong right translated cycle another strong one should follow. But I think this is the same setup like Jan-Feb this year - the next cycle should make higher high just to fail and turn lower. At least this is what should happen according to the other tools.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - the final subwave for C is near completion. For me this is diametric completing the C wave of a zig-zag.
DJ/SP500 are weaker, but if you look NYSE you will see c=0,618xa and RUT c=a so it is a time for a high and reversal.
NYSE makes low and the cycle low is at the yellow f so watching for zig-zag g yellow. If the market decides to pull something really complex than the white f is the low and g itself is a diametric the white squiggles.
Confirmation that g is completed is move below MA50/support. Confirmation that C is completed is move below MA200/support.

Intermediate term - the indicators with perfect setup long and short term divergences warning for a high.
Neowave pattern symmetrical completing at 18m high looks good. Classical EW pattern should be W-X-Y with the catch that there is no impulses.
Alternate this is the top, I do not believe it much. In this case the last move up should be retraced in less time like 3-4 weeks.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle.

MARKET BREADTH INDICATORS
Market Breadth Indicators - the same like last week, short term divergences, the indicators no do not follow higher.
McClellan Oscillator - weak around zero not much reaction to this week move up.
McClellan Summation Index - buy signal, flattening.
Weekly Stochastic of the Summation Index - buy signal, flattening in the overbought area.
Bullish Percentage - short term double divergence.
Percent of Stocks above MA50 - looks like double top.
Fear Indicator VIX - divergence.
Advance-Decline Issues - not reacting to the upside and moving lower.


HURST CYCLES
Short term cycles - my intuition tells me have 10w low not 5w and the cycle setup for the high looks exactly like Jan-Feb this year with the difference that the cycles are one degree lower. Adjusted accordingly the count on the chart.
The current 20d cycle high is 8 days long so next week we should see the top for the move from the October low.

Week 7 for the 20w cycle. Mature 20w cycle high 16 weeks long and time for reversal into 20w low.

Weekly preview

Another week with more zig-zags and mess, but to contrary this brings more clarity. The short term pattern is taking shape - one final high or it is completed. I am expecting rather final high to complete wave c of a zig-zag and 20w high. Very slow moving wave, I am talking about it for a month and now at last it looks like it close to completing.


TRADING
Trading cycle - price and RSI playing around the MAs. Technically it is a sell signal, but again at the moment there is no signs for confirmed reversal. The high-to-high count is in the time window for a top and I wait to see what happens next week.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - with so many zig-zags the best fitting pattern is diametric for wave c(yellow).
If you want to stick to classical EW.... with so many zig-zags you have to count triangle b followed by expanding ED(red). I think this is a wrong count, but who cares when the outcome will be exactly the same:)
Now there is no signs for a reversal, the move lower is so far zig-zag, but if we see bounce higher and break below support than some wave lower is running.

Intermediate term - the indicators with divergences warning for a high. Neowave pattern symmetrical completing at 18m high looks good.
I have changed the alternate scenario, the classical EW pattern. It still breaks the rules, the W wave is a mess of zig-zags and not impulses. The theory aside the following idea - we have one completed pattern at 40w high roughly for 5months labeled W, followed by X and now second pattern is running and completes at 18m high or roughly the same length 5months.
What we are seeing is a zig-zag for the first wave of it. What could follow is bigger zig-zag,flat or a triangle. We have 20w high what should follow is 20w low so according to the cycles we should see one of the sideways patterns - flat or triangle. On the chart is shown flat, maybe at the 10w low there will be more clarity, for sure we will know around the 20w low.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle.

MARKET BREADTH INDICATORS
Market Breadth Indicators - the same like last week, short term divergences, some turning lower.
McClellan Oscillator - moving lower close to the zero line.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - short term divergence and turning lower.
Percent of Stocks above MA50 - short term divergence and turning lower.
Fear Indicator VIX - around the previous lows.
Advance-Decline Issues - lower highs and trying to turn lower.


HURST CYCLES
Short term cycles - we saw big reaction lower this week. As I wrote it is possible that the 5w low is this week. We have two bigger reactions lower - accordingly the price pierced MA10 and the indicator is showing them as something significant. For now I will trust the indicator and count this week as 5w low and next week we will see if we have confirmation with a move higher.
For that to work I will make some assumptions like the spike means nothing and count extended 20d cycles so that the flow high->low->high works. I do not like this much, but lets see what happen next week.

Week 6 for the 20w cycle. High-to-high count week 15 so this is definitely 20w high from the September top.

Weekly preview

Short term - it is clear the c wave is running already. It is corrective and it is not clear when it has began. Price blow off was the a wave now we have bullish sentiment blow off with the c wave. Long term no change heading into intermediate term high then lower to MA200.

The interesting development this week is the USD - the USD is driving the markets, when it reverses the stocks will puke.
I think we are seeing the completion of wave C of a triangle at 18 month low with MACD/RSI divergence on the weekly charts. There is no impulse the wave is corrective(7 waves) and the "experts" again with their dollar collapse right on time to be wrong again.


TRADING
Trading cycle - buy signal. The price is finding support at MA10 which is typical for 20d/5w lows, but the problem is there is no strength rally up and test of the MA... just crawling along it. I think we saw half cycle low and one more move up to complete daily cycle high roughly 45 days(red count), which is the usual length.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - it is not clear where the b wave was completed. Most of the indices like NDX/RUT/DJT/XLF/SOX/EEM(in fact all without DJ and SP500) look like b wave low on 12th of November(the first b) and c already reached the expected 0,618 extension or more. SP500 looks probably better with triangle(the second b), but why should it have different pattern?. Just waiting to see completed pattern, short term cycless pointing to at least another week anyway.

Intermediate term - nothing new. The indicators with divergences warning for a high. The pattern which fits best is symmetrical completing at 18m high.
Alternate the pattern completes at the current high g/Z. The difference will be the speed of the decline, which will follow.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle. The indices are close to price high and turn lower. The indicators are pointing to topping not continuation.

MARKET BREADTH INDICATORS
Market Breadth Indicators - the same like last week just the short term divergences are better visible after this week.
McClellan Oscillator - short term divergence after slightly overbought levels.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - short term divergence after overbought level.
Percent of Stocks above MA50 - short term divergence after overbought level.
Fear Indicator VIX - closed half of the gap and testing the low.
Advance-Decline Issues - short term divergence after overbought level.


HURST CYCLES
Short term cycles - the more likely scenario is that we saw 5w low on Monday as expected and now heading higher into 5w/10w high. The alternate scenario still have not seen the 5w low will mean a few very long 20d cycles in both directions not impossible, but I want to see confirmation first like 3-4 days lower.
If you dig deeper probably Friday was 10d high and next week Monday-Tuesday lower for 10d low and a few days higher for the final high.

Week 5 for the 20w cycle. High-to-high count week 14 so nearing 20w high.

Weekly preview

Nothing much new to say. Short term one strong day for more confusion if the final move up is already running or not. Cycles and indicators will look better if the pullback is not complete so I think 2-3 days lower before the final push higher will look better.

The interesting development is that in the last 3 months the indices gone nowhere, but we have euphoria trough the roof like late 2019-2020 Fear&Greed reached 92 in the last few weeks. This is a sign that we are close to a top. The usual behavior is top->correction->another top with Fear&Greed divergence - this is the perfect outcome in sync with pattern and cycles which I am showing.


TRADING
Trading cycle - buy signal. I have changed the counts, as I have explained last week they do not make sense any more. The low-to-low count one longer and one shorter daily cycle with average 2x45 days which is the usual average and this is in sync with the cycle model - 4 daily cycles for one 40w cycle.
The high-to-high count is way too long so with high probability we have two daily cycles from the high in September. The second one needs something like two weeks for a high which is in sync with the cycle model too.
The perfect outcome will be a few days lower for half cycle low and push higher to complete high-to-high daily cycle.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - either b is completed as a triangle and c running or one more leg lower to complete b as a flat. It is difficult to say... if you look at other indices like NYSE/RUT the first option looks better, when I look at cycles the second option looks better.

Intermediate term - nothing new. The indicators with divergences warning for a high. The pattern which fits best is symmetrical completing at 18m high.
Alternate the pattern completes at the current high g/Z. The difference will be the speed of the decline, which will follow.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle. The indices are close to price high and turn lower. The indicators are pointing to topping not continuation. The weekly candles telling the same no continuation after the big green candle.

MARKET BREADTH INDICATORS
Market Breadth Indicators - do not follow higher. I think they are preparing for short term divergences, we have long term divergences already. In the mean time there is a lot of euphoria Fear&Greed reached 92.
McClellan Oscillator - pullback from the high.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - pullback from the high.
Percent of Stocks above MA50 - pullback from the high.
Fear Indicator VIX - testing the previous low.
Advance-Decline Issues - pullback from the high.


HURST CYCLES
Short term cycles - we have 20d low either at day 9 or 15 and now hitting 20d high next should be 20d/5w low.

Week 4 for the 20w cycle. This is the cycle model I have shown last week. It makes most sense and I will follow this one until I see it is wrong.

Weekly preview

Deja vu another vaccine pop and pullback. What changed is that this pullback is taking too long, which pushes the top later in time. The implications are for the cycle count - the high-to-high cycles are much shorter, such long 40w cycle high is not very likely.

I expect the pullback to continue next week. I think the indices are heading lower into 5w low followed by 20w high first half of December. The alternate scenario is the top is in.... this will be very strange - roughly 5 days up and 10 days reversal which reversed nothing so far.


TRADING
Trading cycle - technically switched to sell signal with another cross. I would say just weaker move up.
The high-to-high is getting too long again, low-to-low says we are close to a low. Both high and low expected - complete nonsense. We have to look at the other tools. I would say look at the new cycle model for the right answer.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - still in the b wave. I think we will see more before it is complete.

Intermediate term - nothing new. The indicators with divergences warning for a high. The pattern which fits best is symmetrical completing at 18m high.
What will be the difference between "this is the top" and the pattern is not completed even if lower high follows? - The speed of the decline. In the case of a top the decline will be fast. In the case of wave h(red) it can retrace a lot like all the way down to 3000, but it will move slowly like 2 months.

For those interested in Neowaves:
In a NEoWave Diametric, the time and complexity exhibited by each wave will be very similar, but they remain different in price. This creates the contracting and expanding shape.
In a NEoWave Symmetrical, most waves possess the same time, price coverage and complexity. So far we have 4 surges higher with the same complexity, size and time. The only exception is wave e which is longer in time. I suppose that is why Neely switched to symmetrical, because it describes better the price action.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle. The indices are close to price high and turn lower. The indicators are pointing to topping not continuation. The weekly candles telling the same no continuation after the big green candle.

MARKET BREADTH INDICATORS
Market Breadth Indicators - pulling back from overbought levels. I would say preparing for short term divergences and we have already long term divergences.
McClellan Oscillator - lower from the top.
McClellan Summation Index - buy signal with long term divergence.
Weekly Stochastic of the Summation Index - buy signal with multiple divergences.
Bullish Percentage - lower from the high.
Percent of Stocks above MA50 - lower from the high.
Fear Indicator VIX - doing nothing.
Advance-Decline Issues - lower from the high.


HURST CYCLES
Short term cycles - adjusted to the new long term count lets see if it will play out next week.
With this model we should see the decline continuing next week for 5w low followed by move higher for 5w/10w/20w high.

Why suggesting a new cycle model - because this 40w cycle high is getting too long. From the top in 2000 the 54m cycle(highs) is running roughly one year shorter 3,5 instead of 4,5 years. The 40w cycle is roughly 7 months long instead of 9 months.... and now should be 10 months long?!?!? - I doubt it. On top of this the down part(40w low) was 2-3 months shorter than the usual, I would expect shorter cycle not extended one. Why the important high B wave and low C wave should be at 40w high/low followed by 18m high/low in the middle of nowhere it does not make much sense.

It is the same pattern and shape, the difference is the summation of three cycles causing this shape are not 10w/20w/40w but 20w/40w/80w. The key difference and confirmation - the initial decline will take longer like two months. Now waiting and watching what happens in the coming weeks.
All that this count has and the previous one has not:
- the sequence 20w/40w high -> 20w/40w low runs smoothly as it should be.
- the 40w high-to-high is running shorter as it should be.
- the important highs/lows are at 18m highs/lows at pattern highs/lows as it should be.

Weekly preview

Pullback as expected, but first we saw spectacular one day blow off most of it retraced the same day. The pattern is taking shape, the cycles are getting mature so the indices are nearing important high - 40w high and the top for the move from the March low. I would say another week or two.


TRADING
Trading cycle - buy signal. The high-to-high cycle is mature for a top and waiting when it will reverse for the real down part of the fourth daily cycle... maybe test of MA10 next week and final high.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - from the March low all moves are zig-zags... that is why I want to see final c wave and another zig-zag for completed pattern. For perfect alternation of the zig-zags in the Z pattern we should see c=0,618xa. It looks like a flat for b/b, on Monday we will have more clarity alternate c/Z is already running.

Intermediate term - zig-zags building bigger zig-zags, there is no impulses. From orthodox EW perspective is triple combination W-X-Y-X-Z, but there is no impulses. So if you stick strictly to the theory you need something else like neowaves patterns diametric/symmetrical. According comments G.Neely sees symmetrical with lower high for i(red count) - example. I will not be surprised, it will fit perfect:
- from TA perspective it is complex H&S top and we will see the price playing around with the MAs before the real decline.
- from cycle perspective it is this wobble caused by the coming 10w low(see weekly cycle chart).
- it will burn time which is necessary - if we see the big decline starting now it will take too long until March and fear does not take so long to discharge.
MACD shows clear double divergence between the three highs - just an info for those who dream that this is continuation.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle.
The indices are close to price high and turn lower. The indicators are pointing to topping not continuation. The weekly candle telling the same no continuation after the big green candle from last week.

MARKET BREADTH INDICATORS
Market Breadth Indicators - overbought some with divergences, it will be perfect if we see the oscillators with short term divergences too.
McClellan Oscillator - lower highs.
McClellan Summation Index - buy signal with divergences.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - overbought level.
Percent of Stocks above MA50 - overbought level.
Fear Indicator VIX - higher low.
Advance-Decline Issues - overbought, lower high and divergence.


HURST CYCLES
Short term cycles - the last three 5w cycles are counting better if you dived them in three not two. I see 10+10+8=28 5w high, 8+9+9=26 5w low and so far 9+11+4=24 for 5w high. So we should see a low soon and a few days higher to complete at least 5w/10w high and with high probability 40w high.

Week 7 for the 20w cycle. The indices are close to 40w cycle high.

Weekly preview

Short term low as expected and sharp rally. The goal for this final move was to kill the bears and convince the bulls that there is only one direction and it did it perfect.... the market is so strong:)))))))
Why I do not think it is strong - because it is corrective, market breadth does not really support it, all 4 candles with shadows. Exhaustion gaps and distribution - push the futures it is cheap and sell during the opening hours. This is not how strong move looks like.

Now we wait for completed pattern - triangle/zig-zag, or if it somehow develops as impulse(less likely).


TRADING
Trading cycle - another flip to buy signal this time. We have 4 flips within two months. The reason is we have a sideways pattern running. Now the high-to-high cycle is mature for a top and waiting when it will reverse for the real down part of the fourth daily cycle.
The analysis and trigger should point to the same outcome. When they diverge is wait to see, which one is right - the analysis or the trigger. I bet that the analysis is right(no reversal) and it is playing out. Sideways patterns triangles and flats are the "wekaness" of this trigger.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - so far corrective move. We have two legs up with the same size very well visible on the futures with the big decline in the middle. On the cash index the hint is this perfect channeling which occurs in corrective structures. It is less likely to mutate into impulse more likely expect some kind of a pullback next week. Any pullback above 50% is b wave. 62% pullback or more and we have triangle.

Intermediate term - with another corrective move there is many combinations. I am showing those who will complete the pattern - g/Z triangle(yellow) or g(red).

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle. Wave C should begin soon.

MARKET BREADTH INDICATORS
Market Breadth Indicators - oscillators are resetting, but I do not see strong reversal to support this move up.
McClellan Oscillator - lower high.
McClellan Summation Index - trying to turn up.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - turned up.
Percent of Stocks above MA50 - another lower high so far.
Fear Indicator VIX - in a range too, higher low so far.
Advance-Decline Issues - weak around the middle of the range.


HURST CYCLES
Short term cycles - 5w low and now heading into 5w/10w high. I am speculating that we will see similar 5w cycles for the 10w cycle high. This means symmetrical 20d cycle 9+9=18 leading to two identical 5w cycles 10+18 and 9+18 - short said up to another 8 trading days before we see the high.
Comparing them the index is at 9-10 day high(the circles) and now a few days pullback is expected followed by final move up for 3-4 days.
History rhymes it does not repeat and with the waves it is the same they alternate. What I mean in the previous 5w cycle the pullback was 4 days sideways move and this time it could be deeper pullback. For example the previous up leg from 24.09 was - weaker move up, sideways pullback, strong 4 days up with gaps. The current up leg is already alternating - strong 4 days up with gaps, pullback maybe bigger this time to alternate and what left is the weaker final move up.

Week 6 for the 20w cycle. For now sticking to the plan that late September was 20w low and we have not seen the 40w high.

Weekly preview

Well the market creating a lot of confusion with the decline this week... I still think we have a topping and the decline has not begun. Just maximum confusion before the top.

A lot of confusion because at first look there is many possible patterns from reversal to intermediate low and the rally resumes. My opinion is we have not seen the top and we need one more move up even if it is a lower high.


TRADING
Trading cycle - sell signal. The last high and the current low are just half cycle high and low. They are not pattern high/low, they are legs of a bigger pattern. This "fake" M10 crosses occur in sideways pattern like triangle and flat and I susspect this is what is going on.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - it looks like impulse, but I think it is another corrective pattern. For impulse we need to see waves 4 and 5. NDX,RUT are not even close to something like impulse, so I doubt we will see this waves 4/5.

Intermediate term - the perfect pattern will be to see one marginal higher high. It will create maximum confusion, it will trap both bears(now convinced in reversal and giving up at higher high) and bulls(the market always going up) and it will fit perfect with cycles. So main scenario flat for g diametric or Z, alternate weak bounce to complete triangle Y or g with lower high.

The leg lower is longer than the previous leg up without fully retracing it. This is not how reversals look like.... despite that what else could it be:
The bullish view is this is a flat from the September high - there is no impulse so far for c, the b wave is the shortest which is not allowed, completes at 5w low, in the middle of nowhere concerning time.
The most bearish view - impulse lower since the September high.... I will not even comment this nonsense - just look at NDX and RUT great start of the third wave.
Another lower high for g diametric or Y triangle - possible, but it will be a weak move higher and not create enough euphoria to trap the bulls.

Long term - the bull market completed in 2018. Since then a bunch of corrective waves. Currently I think this rally should be a corrective wave of a bigger pattern most likely triangle. Look at NDX we have corrective wave which is 1,618 bigger than the previous one which could be only b of a triangle. I think the best looking pattern is Neely's triangle. Wave C should begin soon.

MARKET BREADTH INDICATORS
Market Breadth Indicators - turned lower some with oversold levels so something higher is comming at least short term bottom.
McClellan Oscillator - oversold levels.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - trying to turn lower.
Bullish Percentage - sell signal.
Percent of Stocks above MA50 - almost reached 25 level.
Fear Indicator VIX - should pullback lower for another higher low.
Advance-Decline Issues - some retracement higher expected.


HURST CYCLES
Short term cycles - it looks like 5w low so next we should see move higher for 5w high. Interesting is the last two 5w cycles high and low are asymmetrical and look similar - 10-18 days for a high and 16-9 days for a low.

Week 5 for the 20 week cycle. For now sticking to the plan that late September was 20w low and we have not seen the 40w high.