Weekly preview

The price action looks like weak fifth wave ED to complete impulse from the April low.... probably a-wave of a bigger pattern. In this case we should see b-wave lower into July for 20w cycle low.
Big picture alternate scenarios with impulse are bearish - this is c/Y-wave and we have Y wave as a flat correction or the fifth wave of an impulse completing from the 10.2022 low.


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - it looks like completed pattern from the April low.

Intermediate term - bigger b-wave not just pullback into July for 20w cycle low. In red the alternate bearish scenarios.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - with divergences, expect move lower.
McClellan Oscillator - below zero.
McClellan Summation Index - buy signal with divergence.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - divergence.
Percent of Stocks above MA50 - divergence.
Advance-Decline Issues - divergence.
Fear Indicator VIX - long term multiple divergences.


HURST CYCLES
Short term cycles - 5w high this week and now lower into 20w low.

Long term cycles - 40w low right on schedule and now higher into 40w high.

Quick update

Waiting to see if this is b wave.... it starts looking like fifth ED.

Weekly preview

Nothing new to add, pullback running probably 20d high early next week and decline to complete 10w low.


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - pullback running, using trend lines and support it should look like this

Intermediate term - pullback is running, when it is over we should see continuation higher into July.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - pointing lower.
McClellan Oscillator - around zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - around overbought level.
Percent of Stocks above MA50 - around overbought level.
Advance-Decline Issues - in the middle of the range.
Fear Indicator VIX - at support trend line.


HURST CYCLES
Short term cycles - close to 20d high and next lower into 10w low.

Long term cycles - 40w low right on schedule and now higher into 40w high.