MTU Weekend Ed. - Filtered (12/23/21 close)

The added price bars of the past week now have filtered our three tracking counts down to one, the triple zig-zag. 

MTU Weekend Ed. - Room for Santa Rally (12/17/21)

Previous tracking scenarios are unchanged. 

Chart 1 - The red and blue tracking counts anticipates a Santa Rally. 

Chart 2 - The most bearish count is the one where the green (B) is the blue Y - the top.

 

 

 

MTU Weekend Ed - Upswing (12/10/21 close)

 See last week's post for context

MTU Weekend Ed. - 50-DMA

We commented in the Nov 21 post (as of Nov 19 close) about "a possible high or  small-degree wave-two or wave-B retrace with MA50 as a potential floor." in SPX. And now the SPX is at its MA50 (and the Dow its MA200). 

While a (truncated) high (at the red 5) remains a possibility,  the subsequent decline looks more like a corrective wave (a double zigzag) than a impulse wave (an incomplete leading diagonal), and favors a wave-B (or X) or a wave-Two.  The following chart updates where we are in terms of these three possibilities.