Friday, April 15, 2016
MTU Weekend Ed. - Awaiting ABC Down (4/15/16)
The big picture observation in ABC Down (4/8/16) remains applicable. Chart 1 updates. "If the Feb 2016 low around 1810 is to be retested or exceeded (perhaps to conclude wave -down since the 2009 bottom), another ABC type of downswing is a reasonable possibility."
SPX made a new upswing high this past week, making the upswing further mature, as Chart 2 and Chart 3 are tracking.
Chart 4 and Chart 5 illustrate how similar near-term tracking work on the Dow and the MidCap index.