Weekend Observations for 4.14.19

SPX – The SPX chart I developed so many years ago to filter bull market conditions from bear market conditions continues to see the momentum indicator line move upward towards the highest DTL…

I don’t think it will reach there by the ~3040 peak, though may actually push through slightly in the second upward push to ~3290… watching.

 

Link to larger chart:  Link 

 

 

Dow – Here’s the Dow daily with a slightly alternate fractal count, but essentially the same outcome…

In this scenario, the Dow proceeds upward to the top channel UTL then drops back to the middle channel line UTL to complete wave-b:(x):(iv) in the June/July time frame… watching.

 

Link to larger chart:  Link

 

NDX – The daily NDX is in a similar fractal count as the Dow and SPX, though because the angle of the upward channel was much steeper, it seems less likely that the NDX will move upward to the highest channel line UTL, but to the middle channel line UTL…

If this plays out in this manner, the the NDX will move upward to the ~8000 range, then back downward to the ~7600 range to complete wave-b:(x):(iv) in the June/July time frame… watching.

 

Link to larger chart:  Link 

 

JP Morgan Chase – JPM had record earnings last week, thus validating my revised fractal interpretation about a month ago…

JPM was up about 5% Friday, and on its way upward to wave-(x):(iv), though there will likely be other smaller waves on the way… watching.

 

Link to larger chart:  Link 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *