Saturday, September 24, 2022

MTU Weekend Ed - BB bands (9/23/22)

SPX closed below its BB band, touched the lower band of its weekly and monthly BB band in a retest of the year low. 

While SPX was just shy of breaching the year low this past Friday, the Dow did. 

For SPX to complete a large wave 4-down from its ATH, it likely needs to tread sideways to trace out a terminal triangle (blue). 

A continued decline would complete a potential triple-three (leading expanding diagonal?) from the all-time high.





Sunday, September 18, 2022

MTU Weekend Ed. - ... of Two Wedges (9/16/22 close)

Two potential wedges in SPX, one bullish and the other bearish.  Neither may materialized and each can morph into a double zigzag. 





Sunday, September 11, 2022

MTU Weekend Ed. - 2/4 line (9/9/22 close)

SPX has been respecting the tentative wave 2 - wave 4 line (Chart 1 & 2)

Reactions near the prior HS neckline and the previous support/resistance zone will be informative (Chart 3)




Saturday, September 3, 2022

MTU Weekend Ed. - Measured Target (9/2/22 close)

SPX has reached the downside measured target of the small-degree head-and-shoulders pattern.