Weekly preview

Boring week... nothing new to add. The indices are heading for 10w high wave-a then lower for 10w low wave-b and higher wave-c for 20w/40w high sometimes in July.


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - waiting to complete what ever it is... either the usual double zig-zag or wedge.

Intermediate term - zig-zag testing MA200 and the RSI trend line, next is pullback and higher into July.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - some turned lower after overbought levels.
McClellan Oscillator - lower high.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - overbought level.
Percent of Stocks above MA50 - in the middle of the range.
Advance-Decline Issues - turned lower.
Fear Indicator VIX - retracing lower.


HURST CYCLES
Short term cycles - I am expecting 10w high then lower into 10w low.

40w low right on schedule and now higher into 40w high.

Weekly preview

It is taking too long more likely we saw the 40w low. This is the first zig-zag higher next is some correction in May for 10w low then the second zig-zag into July for 40w high.


TECHNICAL PICTURE and ELLIOTT WAVES
Short term - zig-zag or variation wedge to complete the pattern.

Intermediate term - zig-zag testing MA200 and the RSI trend line, next is pullback and higher into July.

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

MARKET BREADTH INDICATORS
Market Breadth Indicators - buy signals and several indicators are overbought so time for pullback.
McClellan Oscillator - very overbought.
McClellan Summation Index - buy signal.
Weekly Stochastic of the Summation Index - buy signal.
Bullish Percentage - at 70 level.
Percent of Stocks above MA50 - in the middle of the range.
Advance-Decline Issues - oerbought level.
Fear Indicator VIX - retracing lower.


HURST CYCLES
Short term cycles - it is getting too long for 20w high. I think this is 10w high... maybe next week.

Most likely 40w low right on schedule and now higher into 40w high.