Weekly preview

Holiday this week, nothing new to analyze.... bigger zig-zag until the end of the year expected, alternate this is the intermediate term top. The only difference with last week is market breadth has the bare minimum to say maybe this is a top.


TRADING
Trading trigger - buy signal
Analysis - final wave completing the correction and turn lower to complete the 4y cycle low. Intermediate term low and higher for a few weeks, probably into year end.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - zig-zag, more likely part of a bigger zig-zag.

Intermediate term - there is two options w2 of C(very low odds) or e-wave completing the B-wave.

Long term - 4y cycle high the end of 2021, now a-b-c lower into 4y cycle low in Q1 2024.
Very long term - most likely huge double zig-zag from the 2009 low. If we are lucky this is lower degree b-wave(green) and there is one more high. If not multi year decline has started.

MARKET BREADTH INDICATORS
Market Breadth Indicators - still pointing higher, but now they have reset after oversold levels so turn lower is possible.
McClellan Oscillator - divergence.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - rising.
Percent of Stocks above MA50 - touched overbought.
Advance-Decline Issues - close to overbought
Fear Indicator VIX - testing the previous low.


HURST CYCLES
Short term cycles - two scenarios decline into 5w low and last push for extended 20w cycle high or this is the 20w high with three extended 5w cycles.

Week 4 for the 20w cycle. Rising into 20w cycle high currently at week 17 discussed above.
Long term the previous 4y cycle high is repeating 3x40w cycles/two years for mid-cycle high(2018-2019 / 2022-2023) and down into 4y low.