MTU Weekend Ed. - Dow Exceeds August High (11/25/22 close)

The now closed the day and the week above its August 2022 high while SPX is more than 7% shy of its August high. 

The larger price structure remains  the same. 

On the bearish side, the current upswing may be a part of a bearish flat,  bearish expanding triangle or bearish contracting triangle,  to conclude a corrective B wave. 

On the bullish side, the current upswing has commenced a larger-degree wave (possibly wave five) to new highs, or the final leg of an expanding triangle to finish the blue [b]-up of 4-down.   Note that in the latter case, the subsequent blue [c]-down of 4-down does not need to exceed the October low. 

MTU Weekend Ed - Nesting (11/18/22 close)

 

MTU Weekend Ed. - Continuation (11/11/22 close)

This past week saw a continuation of the initial upswing in Q4.  

Chart 1 - 

Potential target areas are 4200 and 4500 if this upswing is only partially correcting the 2022 decline, as a leg of an expanded flat or a bearish triangle. 

New high if this upswing is the start of wave five up. 

Chart 2 - 

Index is still inside the down channel. 

Chart 3 - 

Short term, tracking 3 counts (coloured)

 

MTU Weekend Ed. - Pullback (11/4/22 close)

 

MTU Weekend Ed - Q4 swings (10/28/22)

[Chart 1 and 2]  A potential triple zigzag from the ATH in SPX likely concluded at the recent low, given how much INDU has rebounded.  INDU has now regained both SMA50 and SMA200 and SPX closed above SMA50. 

Note the positive divergences developed over the past months, and the potential bull-flag from the ATH.

Potential targets to monitor are the upper end of the Q3 range (perhaps higher) in a counter-trend rally (as wave B up),  or new high as wave 5 up.  

[Chart 3]  Short term tracking scenarios.

MTU Weekend Ed - Upswing (10/21/22 close)

Chart 1-  SPX broke out of a small-degree ending wedge and is now in an upswing. 

               Is the potential 4 done or will it stretch in time? 

Chart 2-  Is the current low Z or just [a] of  Z ?

Chart 3-  Short term tracking

MTU Weekend Ed - Ending Patterns (10/14/22)

 Chart 1 - The blue wave 4 (if it is one) is now wedging and is likely concluding.

Chart 2 - Can one make a five-up on last Thursday's rebound?

Chart 3 - Potential ending patterns to monitor.