Weekly preview

Now we have completed impulse from the last low, zig-zag from the August low and double zig-zag from the April low and at least 10w high.
There is two options:
- completed pattern double zig-zag and 40w cycle high at week 25, we saw several shorter cycles in the last 3 years.
- simple zig-zag with c-wave as ending diagonal and one more 10w cycle to complete regular 40w cycle high.
We can make some conclusion after we see the reaction lower.


TRADING
Trading trigger - buy signal.
Analysis - long term topping process for important high 4y cycle high. Intermediate term higher into 40w cycle high.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - this looks like clear impulse for the second leg of a zig-zag and completes at Fibo target.

Intermediate term - it looks like complex pattern for the Y-wave. Now we have more clarity - the most common pattern for years is double zig-zag and we have it completed at different degrees(black y/Y).
Alternate this could be simple zig-zag a-b-c with c-wave ending diagonal to complete around the elections with regular 40w cycle high.
Low probability simple Y-wave with a top in July and now in the b-wave of a flat(grey y/Y) - this b-wave is very common pattern in the tech sector, look at MSFT/NDX/SOX for example.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - pointing higher with long term divergences.
McClellan Oscillator - above zero with divergence.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - sell signal with divergence.
Bullish Percentage - pointig higher with long term divergence.
Percent of Stocks above MA50 - pointig higher with long term divergence.
Advance-Decline Issues - pointing higher with divergence.
Fear Indicator VIX - higher low and multiple divergence.


HURST CYCLES
Short term cycles - most likely 10w high.

Higher into 40w high and possible shorter 4y cycle high.... We have several shorter 40w cycles 25 weeks long, the current one is now 25 weeks long - could this be the top with another shorter cycle?