Saturday, January 25, 2020

MTU Weekend Ed - Reversal or Small-Degree Pullback (1/24/20 close)

There are now enough waves to complete a potential triple-zigzag or impulse in ES / SPX since its October low. Please Expanding EDT & Triple Zigzag (1/17/20) for larger-degree details. Chart 1 (triple zigzag) and Chart 2 (impulse) update.

For the triple zigzag tracking count, it's possible that Friday's pullback is wave b-down of wave (z)-up. See Chart 3 for squiggles ( blue: completed impulse; black: completed final zigzag; green: b-down of (z)-up in the final zigzag).


Friday, January 17, 2020

MTU Weekend Ed. - Expanding EDT & Triple ZigZag (1/17/20 close)

It's time to revisit a potential expanding ending diagonal triangle in SPX first highlighted in May/Aug Line (12/7/2019) and updated many times since, referred to by the red X and green expanding EDT boundary lines there.

Here is the current bigger picture on SPX - note the red X and green boundary lines

In fact, in ES, the advance since early October may count better as a triple zigzag then an impulse (or at least as well as).   Note the nice fib-like ratios.

EWT implications by the triple-three tracking count
-  the same price cap as an impulse count (see chart below) assuming the 3rd zigzag above remains shorter than the 2nd.
-  most likely a terminal advance in the sense that following reversal corrects the entire advance in 2019
-  the speed of the decline post-reversal is likely to be faster than based an impulse count

Comparison to an impulse count (see Chart below). 

Finally, the Chart below updates the unfilled gaps in SPX cash.  The labels in this charts assumes the blue X.


Sunday, December 29, 2019

MTU Month-End Ed. - Time, Price and Gaps (12/27/19 close)

In Chart 1,  wave B-up is about equal in time to wave A-down (from H1) and about 4 times in time as wave A-down (from H2).   Wave B-up is at a respectable magnitude with respect to wave A down.
In Chart 2,  wave Y-up (from the blue X) is about equal in time to wave W-up. Wave Y-up is at a respectable magnitude with respect to wave W-up.






The latest advance from the October low now has 7 unfilled gaps (Chart 3).




Saturday, December 14, 2019

MTU Weekend Ed. - Triangle Apex (12/13/19 close)

Time wise, SPX is at  the apex of a potential triangle (grey lines), although it's debatable whether it is a triangle.