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

Market Timing Update (6/20/18)

These gaps are unlikely of the breakaway kind, are likely to be filled.


Tuesday, June 19, 2018

Tuesday, June 12, 2018

Monday, June 11, 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

Monday, June 4, 2018

Market Timing Update (6/4/18)

Negative divergence present on the 2Hr chart.