Weekly preview

Big decline on Monday and since then trying to find bottom. Short term there is a zig-zag a-b-c, but there is no guarantee it is not an impulse 1-2-3.
Best case we have a bottom, worst case it is an impulse with waves 4-5 to be completed in the next weeks.


TRADING
Trading trigger - sell signal.
Analysis - distribution running for several months, close to 4y cycle high. Intermediate term low soon and higher into May/June.
P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - possible zig-zag or it could be impulse, waiting for w4 or reversal.

Intermediate term - some kind of a-b-c lower to MA200 should be completing. Next we should see another corrective pattern higher into May/June.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - closer to oversold levels, but still no important signals....
McClellan Oscillator - below zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - moving lower.
Percent of Stocks above MA50 - moving lower.
Advance-Decline Issues - moving lower.
Fear Indicator VIX - some retracement.


HURST CYCLES
Short term cycles - 20d/5w cycle highs next week followed by 20w low?

Possible scenario for the long term cycles.... the indices are in the time band for 40w cycle low, average length is 32-36 weeks.