Weekly preview

This jump higher above MA10 on Friday argues that we saw the low... but so far zig-zag higher and expected 5w high. If there is more to the downside we should see turn lower... we will know next week.
It looks like a bottom, but appears at the wrong time and market breadth was very oversold so reversal without any signs of bottoming/divergence... it is suspicious.


TRADING
Trading trigger - buy signal. It is too early for daily cycle low, next week it will be confirmed or not.
Analysis - long term sell the rips, we have major top. Intermediate term low first half in July and higher for a month.

P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - so far we have a-b-c higher with a=c. Next week we should see turn lower and depending on its strength we will know if we have intermediate low or to expect lower low.

Intermediate term - Next week we will know if we saw the bottom.

Long term - We saw the high, if we are lucky this is b-wave, if not huge double zig-zag from the 2009 low was completed and it will get very ugly in the next years.

MARKET BREADTH INDICATORS
Market Breadth Indicators - turned higher from oversold level, this is what should happen - the surprise will be if we see reversal without divergences.... this will be strange.
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.
Fear Indicator VIX - still in the range.
Advance-Decline Issues - turned higher.


HURST CYCLES
Short term cycles - heading into 5w high, this was week 4 so next week we should see turn lower into 5w cycle low.

Week 15 for the 20w cycle and week 31 for the 40w cycle high from the November high(average length 32-36 weeks).
AEX one European index to show what I was explaining last week.