Weekly preview

Turn lower as expected and corrective retracement. No change this should be the c-wave lower to MA200.


TRADING
Trading trigger - sell signal.
Analysis - long term important top it could be 4y cycle high. Intermediate term turn lower into 40w cycle low.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - sharp decline right on schedule and zig-zag higher two legs with the same size - all this should be part of the c-wave(red) lower.

Intermediate term - maybe the top was in November with completed impulse c-wave. Now flat pattern running, currently at the top of the b-wave and next is c-wave down to MA200.
Alternatives - this is the top with a complex w-x-y/Y wave and of course plenty of "EW experts" with fifth wave of an impulse.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - no change some with divergences, some in the middle of their ranges, some with buy signal.
McClellan Oscillator - lower high.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - in the middle of the range.
Percent of Stocks above MA50 - in the middle of the range.
Advance-Decline Issues - multiple divergences.
Fear Indicator VIX - multiple divergences.


HURST CYCLES
Short term cycles - 20d low now higher into 20d high. The indices are at 10w high.

Next important low should be 40w low - earliest in March or it could stretch until May.