Saturday, June 17, 2017

MTU Weekend Ed. - Short Term Update (6/16/17 close)

New highs in the Dow and the consolidation in SPX since its high suggest potential extension or a topping process still in progress.

Potential extension - current consolidation is potentially the blue wave 2-down of wave (5)-up in Chart 1.

Topping process - Chart 2.
blue [iv] bullish triangle
red [v] bearish terminal triangle
green [iv] bullish zizag/flat/triangle