MTU Weekend Ed. - Three Waves Down (1/28/22 close)

Still three waves down from the high, so far (Chart 1), and how it can fit into the 3 potential larger structures (Chart 2). 

 

MTU Weekend Update - Tracking the Big Structure (1/21/22 close)

In SPX, the decline from its ATH has been 3 waves so far. 

Tracking counts relating to the large structure in SPX remains. 

[Red] Wave B-up.  May have ended - we've observed recently that there have been enough waves to complete the wave.  If the top is in,  it is better to count Wave B-up as a zigzag rather than a triple zigzag (See chart).  A correction to the 2020 low or beyond is next.

[Red] Wave B-up.  The current decline can be the end of an [x] wave in a triple zigzag.  In this case, wave [y]-up of B-up is next. 

[Blue] An impulse from the 2009 low.  The current decline is wave [iv]-down of wave 5-up. 

[Green] Wave 1 up from the 2020 low is you have a super bullish outlook.   The current decline is wave [iv]-down of wave 1-up. 

MTU Weekend Ed - Wedge Details and Morphing (1/14/22 close)

In out 1/7/22 close update - 

"In the context of a triple zigzag - see last weekend's update on the longer term structure -  there are now enough structure for a high, but also room for further more development, including a potential EDT from the October low in SPX. "

As of 1/14/22 close - 

Chart 1 updates details on a potential EDT from the October low in SPX.  Internal structure of the A of the wedge is ambiguous, which raises questions about the validity of an EDT.   The Dow made a lower low for the month this past week and SPX did not. Chart 1 also shows the invalidation and upside levels.

If the wedge gets invalidated,  a major high could be in (at the red H) in the context of a triple zigzag.  

Chart 2 updates the triple zigzag. 

Note that this triple zigzag has room to extend in time and price.  It's possible that the second (X) is not the October 2021 low [blue (X)] but a potential low in Feb/Mar 2022 [green (X) potentially testing SMA200]. In that scenario, SPX could be in the middle of this flat-like (or even triangle) structure.

 

 

 

 

MTU Weekend Ed. - A final wedge? (1/7/22 close)

In the context of a triple zigzag - see last weekend's update on the longer term structure -  there are now enough structure for a high, but also room for further more development, including a potential EDT from the October low in SPX. 

MTU Weekend Ed. - Wish You a Safe 2022 (12/31/21 close)

 Three visual possibilities for the large structure from the 2009 low.

But it is not easy to track an impulse from the 2020 low.