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Sunday, March 27, 2022
MTU Weekend Ed - Triangle Watch 2 (3/25/22 close)
No higher high in SPX, the triangle watch continues.
I think the triangle watch MTU has put is worth noting.
ReplyDeleteMost mkt indexes have 5 waves down from November* to the last low.
Being a 5 makes it at least a neg A wave of an ABC (if the main trend remains up it would be forming a Wave 4 from the 2020 low).
It could also be a neg wave 1 of a 5 down which will form a larger A wave.
* Recall my remarks last Dec about the trend stalling as I calculated then November would be the probable MT end point - based on previous time seq.
SEE
https://market-timing-update.blogspot.com/2021/12/mtu-weekend-ed-upswing-121021-close.html
Note also most main US stks have same pattern. AMZN MSFT
And EU Indexes DAX UKX
Given patterns on stks that make up these indexes it it unwise to remain long of them unless hedged.