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.
They can go to the channel top direct, without correction?
ReplyDeleteMay be 23 May was 40d low
ReplyDeleteIt is too long for me to be 40d low (Hurst theory 40d are calendar days).
DeleteIf you mean 10w low (80d Hurst cycle) there is some probability - if we see a short 40w cycle high instead of a pullback.
So, new ATH?
ReplyDeleteKrasi, the move up is 5 waves or abc?
ReplyDeleteWe hit 90% of the down move Friday
ReplyDelete