Sunday, August 22, 2021

MTU Weekend Ed. - Turn(ing) (8/20/21 close)

A clean top in SPX, but a three-wave decline so far (Chart 1). 

The three-wave decline can morph into a leading diagonal triangle or a large flat. If so, a meaning full top is likely in (blue (Y) Chart 2). 

The three-wave decline can be the entire correction.  In this case, an ending diagonal triangle may be wrapping up (green (Y) Chart 2). 

 


4 comments:

  1. Note that DJIA & NYA have not made much gain since May in a almost flat trading range and SPX not much better.



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  2. What your destination for the correction?

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    Replies
    1. one area of interest is 20% below, about 3580
      there are other areas.

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    2. That (3580) would be only wave 1 of a large A wave of an ABC, or alt wave i of neg 1 of a large 5 down.

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