Saturday, October 12, 2019

MTU Weekend Ed. - Potential Terminal Triangle (10/11/19 close)

This past Friday's event-driven rally in stocks is consistent with the personality of the E-wave of a triangle.  If so, major indexes would be approaching the completion of a potential bearish triangle.  Prices need to drop below the October low to confirm such a scenario. See charts (red count).

Saturday, October 5, 2019

MTU Weekend Ed - Triangles (10/4/19 close)

Once again, watch the (upward sloping) red line.   In addition, monitor the potential smaller EDT (blue) and the potential larger EDT (green).  

Completion count

Saturday, September 28, 2019

MTU Month End Ed - Red Line (9/27/19 close)

The red line has so far served as viable resistance against the upswing from the August low in SPX.  Note that the red line is upward sloping, the extent of advance over the past two months raises the question whether the potential megaphone is complete.   With this past week's drop, SPX is currently sitting on its SMA50 and also tests its late 2018 high and May 2019 high.

Completion count

Big picture tracking

Saturday, September 21, 2019

MTU Weekend Ed. - Red Line (III) (9/20/19 close)

It's the red line till it's not.  SPX reacted to the red line this past week once more and closed below it.  However, the red line is sloping upward. 

Saturday, September 14, 2019

MTU Weekend Ed. - Red Line (II) (9/13/19 close)

SPX is hugging and reacting to the red line, which is sloping upward.  The Dow is closer to a new ATH than SPX.

Sunday, September 1, 2019

MTU Month End Ed - Megaphone Update (8/30/19 close)

If the megaphone is in place, SPX is likely making a w-x-y upward retrace to test the red line. Otherwise, a larger DT to test upper green line is an option.
Megaphone update