Saturday, June 6, 2020

MTU Weekend Ed - Probing New High (6/5/20 close)

NDX made new all-time highs and SPX is trying to fill the February gap.




3 comments:

  1. Thanks for the daily update that you have been providing. It really has been very helpful as I check the blog daily. Today Joe put out his longterm supercycle post and I wanted to hear your prespective about that post. Thanks a lot

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  2. Joe's count is one of several possibilities, you'll need to assess the count's likelihood.

    Based on that count, it can be tricky for the bears.

    Note that SPX has exceeded the proposed SuperCycle III top twice now - the first time is intermediate (B)-up of primary ((A))-down, the second time is primary ((B))-up. What are the typical odds of that happening?

    Note also that primary ((B))-up can also make new all-time highs.

    Finally, is SuperCycle IV going to be an expanding triangle? It would be too brief in terms of its duration. If we see an expanding triangle, it most likely of lower degrees.

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