Weekend Ed. - Divergence II (3/27/21 close)

 No need to change the lables on the last Weekend Ed. - Divergence (3/20/21)

Weekend Update - Divergence (3/19/21)

SPX prices have been diverging against select indicators in recent weeks.  Meanwhile, the pullback this past week has been a three so far.

 

 

Weekend Ed - New High Again (3/12/21)

SPX made a marginal new high this past week, keeping the current expanding structure going. 

Weekend Ed. - 3 waves down (3/5/21 close)

Chart 1 - SPX saw a three-wave down so far from its ATH (blue C) or high at a potential failure (green C).  It does not rule out a reversal, in view of the Higher Degree Tracking (2/26/21).  For example,

The ATH could have marked the end of a megaphone (Chart 2, red)

Waves down from the blue C can morph into a larger flat-down.

Waves down from the green C can morph into an expanding LD-down. 

 

Chart 2 - However, support has held and SPX rebounded vigorously Friday.  SPX could  be in the final zigzag up of an expanding diagonal (green  C(Y))

 

Chart 3 - A double-three looks better than a triple-three based on time. Note that the first three lasted 5 months, the current three lasted 4 months, (going for 5 months at the second C(Y).)

 

 

 

 

 

 

  

Thursday Update (3/4/21)

Three waves down so far from he ATH (blue C) or a potential failure high (green C) discussed before (Chart 1).  

SPX closed at a couple of trend-line support levels and is yet to break the late Jan low.  On support failure, SPX has potential to hit the 200DMA, currently around 3465 (Chart 2).