First off, I want to encourage everyone in the US who reads this to please take a moment sometime today to stop... remember... consider... how we still enjoy freedom today are still one of the most blessed nations on earth, in large part because of the ultimate sacrifice made by those who defended our nation.
Thank you to all the fallen service men and women, and their families, for your sacrifices to help keep us free!
T. Sharp, Sgt. USAF, 1981-1985
It appears to me that the SPX left last week ready to break upward from the flag/coil formation off the wave-e:iv, with a wave-i, wave-ii completed or nearly so, and methinks the next IT target will be in the SPX ~3000 range for wave-iii.
Link to SPX hourly chart: https://postimg.cc/image/fv0jdghe1/
Other charts I've posted this week include the weekly slow momentum Dow Jones Transports index, which while it has not yet pushed to new ATHs, it does show confirmation with the indicator for each time a new high in price was reached since the low in 2016... I suspect this time a negative divergence will be the case, marking the end of the bull market for now. Note also how that the RH&S I noted nearly two years ago, played out nicely.
Link to DJT chart: https://postimg.cc/image/my8et2ujd/
Next, I'm posting the weekly slow moment RUT chart, which I suggest is leading the market higher, as it completed its contracting triangle first, broke out and back-tested the same and pushed upward to new ATHs... showing us that the broader market is about to do the same. Note also that each new successive high in price since 2003 was also confirmed by a new high in the momentum indicator AND that with the last new ATH, the indicator also marked a new ATH.
Link to RUT weekly chart: https://postimg.cc/image/45wjpl5vt/
And finally, the weekly slow momentum COMP chart shows the same, with new highs in price confirmed by the same in the in indicator since the 2003 lows, except that the ATH in momentum still remains at the price high in 2000... that's quite a bit higher from today's mark, so I lean towards the divergence remaining against the 2000 price ATHs... we shall see.
Link to COMP weekly chart: https://postimg.cc/image/jemh3dmpl/