MTU Weekend Ed. - Update (5/26/23)

 

MTU Weekend Ed. - The Zone (5/19/23)

SPX is probing the top of its resistance zone, closed above the Feb 2022 low and slightly shy of the Jan 2022 low (Chart 1)

A reaction (down) from current levels could be labeled as a reversal from an ending expanding triangle or wave C-down of an expanded flat (Chart 2)

Chart 3 updates the larger tracking scenarios. 

MTU Weekend Ed. - Two Trianges (2) (5/12/23 close)

Potential triangles update - INDU did a post-triangle deep retrace to probe the small triangle boundary while SPX consolidated at a higher level. 

Long term NDX tracking

 

MTU Weekend Ed. - Two Triangles (5/6/23)

Two triangles, both potentially bullish  (chart 1 SPX,  chart 2 INDU), and how they potentially fit into the larger structure (chart 3 SPX)

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.