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Sunday, November 15, 2020
MTU Weekend Ed - A Slow Market (11/13/20 close)
A slow market - no change in the higher degree tracking scenarios - could pick up speed over the next few weeks.
Industrial indexes are at 2 possible points. Either this is a rally peak of a sideways bear trend as some counts I have the wave seq isnt complete. Or alt mkt is congestion area and given MTUs expanding triangle it is unlikely to break thru it without a decline of sorts first.
Note that NASDAQ & FAANG Stks have not regained their peaks in earlier Sept and that it is possible they completed 5 waves from 2009 at that time. Whey will ultimately drag down the other indexes when they decline.
Note that DAX has 5 waves down since Sept peak and has stalled in the current rally.
Overshadowing everything is the big wave picture which is at peak levels after a 11.6 yr advance. Refer 30yr charts.
Indexes
ReplyDeleteIndustrial indexes are at 2 possible points.
Either this is a rally peak of a sideways bear trend as some counts I have the wave seq isnt complete.
Or alt mkt is congestion area and given MTUs expanding triangle it is unlikely to break thru it without a decline of sorts first.
Note that NASDAQ & FAANG Stks have not regained their peaks in earlier Sept and that it is possible they completed 5 waves from 2009 at that time. Whey will ultimately drag down the other indexes when they decline.
Note that DAX has 5 waves down since Sept peak and has stalled in the current rally.
Overshadowing everything is the big wave picture which is at peak levels after a 11.6 yr advance. Refer 30yr charts.