Sunday, August 4, 2013

MTU Weekend Ed. - A Fifth Wave (8/2/13)

Stocks are likely to wrap up a potential fifth wave since the June low (Chart 1 SPX and Chart 2 NDX).

The pending high likely concludes the advance since at least the 2012 lows (Chart 3 SPX blue) and potentially more (Chart 3 SPX red).

The more bearish interpretation is associated with a better form in NDX, with a potential overthrow. See Chart 4 and Chart 5 below and A Look at NDX (7/19/13) for discussions.