Based on the steepness of the advance since the 2020 low and the corrective pullback from the 2022 high, the possibility of a fourth wave looks reasonable and interesting. This structure is more obvious on a arithmetic-scale chart of SPX.
Market Timing Update
Disclaimer: Each post is for informational purposes only. It is not a solicitation, a recommendation or advice to buy or sell any security or investment product. Information provided in each post does not constitute investment advice.
Saturday, May 14, 2022
Monday, May 2, 2022
Sunday, April 24, 2022
MTU Weekend Ed - Flat Watch Continues (4/22/22 close)
Price action has been consistent with a flat (red (b)) with wave (c) in progress. However, there has been no lower low yet - see near term bullish scenarios.
Sunday, April 10, 2022
Sunday, April 3, 2022
MTU Weekend Ed - Flat Watch (4/1/22 close)
The higher high this past week terminated the triangle watch. A flat watch is in progress (red (b)).
Sunday, March 27, 2022
Saturday, March 19, 2022
MTU Weekend Ed. - Triangle Watching (3/18/22 close)
SPX has a several chances to deliver a triangle to conclude the pullback (in the triple zigzag scenario) this past week but none has surfaced. A larger triangle remains possible and is worth monitoring.
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