Friday, June 29, 2018

MTU Weekend Ed - Bear Flag (6/29/18)

Potential bear flag in SPX, either done or one more high (gray Z)


potential short term upward bias
If so, it could support the small-degree wave 5 in NDX. 

Thursday, June 28, 2018

Market Timing Update (6/28/18)

SPX filled a gap and rebounded.  One more lower low (red E in chart 1) would look better for the red (i) in chart 2.

Monday, June 25, 2018

Market Timing Update (6/25/18)

 SPX filled several gaps as expected.  A couple more open below.

At a larger degree, SPX is correcting a potential small-degree DT

NDX is done (red) or has a small-degree wave five to go (blue)

Wednesday, June 20, 2018

Saturday, June 9, 2018

MTU Weekend Ed - Structure (6/8/18 close)

SPX is approaching the end of a structure.  Top possibilities are
[bearish - red]  1or A-down from Jan high, 2 or B-up from Feb low.
The upswing from Feb low is either an EDT (red with cap of 2824.53) or WXY (grey).  Once concluded, a downswing to below Feb lows is likely.
[bullish - green] ABC-down from Jan high to Apr low, LDT up from Apr low as 1-up or all of it.  Once 1-up concludes, a pullback to 2600 then wave 3-up are likely.

With the lower low in INDU at the Apr low and new highs in RUT etc,  a triangle from Jan high in SPX looks less likely than the above scenarios.



Thursday, June 7, 2018

Market Timing Update (6/7/18)

Reaction at parallel channel and diagonal triangle boundary.
ABC down today - a flat or a larger LDT on the bearish side or just a shallow pullback