MTU Weekend Ed. - Probing [4/28/23 close]

SPX is making another attempt at the resistance zone, from yet another higher low.  A breakout is likely.  The question is whether it is the middle part of a larger impulse (wave FIVE-up) or the ending part of a correction (wave B-up) - since key options regarding the larger structure have remained unchanged. 

MTU Weekend Ed - Consolidation (4/21/23 close)

 No change in the overall structure.  Monitor a potential small-degree wave four. 

MTU Weekend Ed. - Back at the Zone (4/14/23 close)

SPX is back at its major resistance zone - a fifth attempt, with higher lows (Dec, Mar).   Chart 1

Monitoring a potential triangle wave [b] in SPX if . This triangle does not work for other indices.  Chart 2

Tracking counts for the upswing from the March low - for the triangle or further advance. Chart 3

Hard to say whether Friday's pullback is an impulse or an ABC structure.  Chart 4.

MTU Weekend Ed. - Short Term Update (4/6/23 close)

Short term - potential wave four-down

Structure - also in the process of confirming the right shoulder of a potential HS. The potential right shoulder right against the major resistance zone over the past 18 months .

 

MTU Weekend Ed. - Tracking (3/31/23 close)

SPX is up 7.03% (dividend excluded) for the first quarter and back at the resistance zone (Chart 1).
 

A plausible bearish triangle since June 2022 is less probable since the Dow has exceeded its August high in December.
 

Chart 2 updates the tracking scenarios  ( blue 5 and red Bs ).
 

Chart 3 presents squiggle counts.

Mid vs SPX, long term

MID vs INDU,  since 2022