MTU Weekend Ed - Q4 swings (10/28/22)

[Chart 1 and 2]  A potential triple zigzag from the ATH in SPX likely concluded at the recent low, given how much INDU has rebounded.  INDU has now regained both SMA50 and SMA200 and SPX closed above SMA50. 

Note the positive divergences developed over the past months, and the potential bull-flag from the ATH.

Potential targets to monitor are the upper end of the Q3 range (perhaps higher) in a counter-trend rally (as wave B up),  or new high as wave 5 up.  

[Chart 3]  Short term tracking scenarios.

MTU Weekend Ed - Upswing (10/21/22 close)

Chart 1-  SPX broke out of a small-degree ending wedge and is now in an upswing. 

               Is the potential 4 done or will it stretch in time? 

Chart 2-  Is the current low Z or just [a] of  Z ?

Chart 3-  Short term tracking

MTU Weekend Ed - Ending Patterns (10/14/22)

 Chart 1 - The blue wave 4 (if it is one) is now wedging and is likely concluding.

Chart 2 - Can one make a five-up on last Thursday's rebound?

Chart 3 - Potential ending patterns to monitor. 

MTU Weekend Ed. - Retest (10/7/22)

 

MTU Weekend Ed - Triple Three (9/30/22 close)

Likely a triple three from the ATH, seen in INDU and SPX (Chart 1 and 2). 

If the decline extends in both price and time, can be interpreted as a leading diagonal. 

A low is insight, either as the end of the potential triple three or as the end of [a]-down of Z-down. 

If the market decides to conclude a triple three, the current leg may be tracked as an odd-looking diagonal (Chart 3). 

Chart 4 show how the present price structure can fit into the big picture. 

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.

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.