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Saturday, September 9, 2017
MTU Weekend Ed. - Primary Trend Line Test II (9/9/17)
The primary trend line in SPX got tested again this past week and held. Continue to expect a near term breach of this trend line as the Midcap index, Russell2000, Wilshire 5000 and Transports have already broken their corresponding lines.
Near term, a bearish 3-month HS (red) and a bullish 6-week IHS (green) and a bullish 3-month triangle (green) present themselves ...
... which keeps the larger tracking count unchanged for now.