Weekly preview

Nothing new to add sideways price action this week. According to my analysis we should see another 2 weeks higher and intermediate term high.
I took a closer look at NDX and from pattern+cycle perspective with high probabilty we saw the high - from the November high we have a-wave and now in b-wave.


TRADING
Trading trigger - sell signal, but there should be more to the upside. Overall weak cycle higher with 3/4 of the time reached and crossing below MA10.
Analysis - long term sell the rips, close to potential major top. Intermediate term higher for a few weeks. Trades depending on your time frame.

P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - no change - the bearish option is the top is in, the bullish opion c of Z is underway.

Intermediate term - I see three zig-zags with roughly the same length in time W-x-Y-x-Z or possible W-x-Y with complex double zig-zag for Y=W.
MACD broke below zero and now on the way up to test the zero line.... price is struggling with MA50.

Long term - topping process running for months and maturing. Some kind of corrective wave b-wave and c-wave will follow.

MARKET BREADTH INDICATORS
Market Breadth Indicators - heading higher after intermideate term low.
McClellan Oscillator - below zero.
McClellan Summation Index - sell signal.
Weekly Stochastic of the Summation Index - sell signal.
Bullish Percentage - in the middle of the range.
Percent of Stocks above MA50 - in the middle of the range.
Fear Indicator VIX - correction higher, one more leg lower expected.
Advance-Decline Issues - in the middle of the range after oversold level.


HURST CYCLES
Short term cycles - this looks like possible short term count. It will be confirmed if we see turn higher next week.

Week 2 for the 20w cycle.
Long term I am expecting 4 year cycle high. The 18m low either late September with one extra 20w cycle or alternate on time in June/July... waiting to see how the pattern will play out to confirm one of the two options.

Weekly preview

I would say we have 20w low and in a few weeks we should see 20w high. Pattern - either we saw the top or the indices are in Z-wave.


TRADING
Trading trigger - buy signal. Interesting how price and RSI hit the trend line.
Analysis - long term sell the rips, close to potential major top. Intermediate term higher for a few weeks. Trades depending on your time frame.

P.S. - for a trade both analysis and trigger should point in the same direction.

TECHNICAL PICTURE and ELLIOTT WAVES
Short term - now watching the move up.... the bearish option is the top is in, the bullish opion c of Z is underway.
Overall more of the same zig-zag lower and now higher.

Intermediate term - I see three zig-zags with roughly the same length in time W-x-Y-x-Z or possible W-x-Y with complex double zig-zag for Y=W.

Long term - topping process running for months and maturing. Some kind of corrective wave b-wave and c-wave will follow.

MARKET BREADTH INDICATORS
Market Breadth Indicators - turned higher after intermideate term low.
McClellan Oscillator - reseting after oversold level.
McClellan Summation Index - still sell signal.
Weekly Stochastic of the Summation Index - still sell signal.
Bullish Percentage - turned higher in the middle of the range.
Percent of Stocks above MA50 - turned higher in the middle of the range.
Fear Indicator VIX - turned lower.
Advance-Decline Issues - reseting after oversold level.


HURST CYCLES
Short term cycles - we have somewhere 5w high and the last fourth 5w cycle for 20w high is running. Now we should see decline into 20d low. When we see it, we can better judge where the previous 20d low(20w low) was on 24 or 27 of January.

Week 1 for the 20w cycle. The average lenght is 16-18 weeks with 17 weeks I think we have 20w low and the next 20w cycle is running.
Long term I am expecting 4 year cycle high. The 18m low either late September with one extra 20w cycle or alternate on time in June/July... waiting to see how the pattern will play out to confirm one of the two options.