I have a 1409.96 price projection on SPX and at least 5 days away from a top (probably more), unless it immediately reverses and goes below 1377.41, an old now cancelled TD Combo recycle limit (and also the prior highs in May 2011 and in Feb).
There was a TD Combo 13 sell signal on $COMPX on today's close and it sits on day 12 of a TDSEQ countdown count which requires one more close higher than the close two day's prior to complete a sell signal and to then calculate a recycle limit. However, note that we are also in a TDSEQ sell set up count, which indicates upthrust, so a recycle seems likely. Indeed, the counts continue, notwithstanding the 13 prints, so long as we don't have a price flip. A decline here would target the TDST line at 2813.34 and the 2762 price projection (pink crosses).
$INDU printed a TDSEQ sell signal yesterday, with a recycle limit at 13407. There is an unmet TD Wave™ B wave price projection at 13297. $INDU printed a TD Combo™ Sell signal at the Feb 28 IT closing high (TD 377 from it's Aug 2010 low) which was good for an IT swing trade. It exceeded the May 2008 high yesterday, which was the 100% fib line. Inital downside price projection is 12586, (just above an old TD Demand line) and the TDST line is at 12311. The prior down swing stopped at the TD Demand line (small red dots)
$RUT printed a TDSEQ sell signal on 2/21 which was good for an IT swing trade. Yesterday printed day 12 of a TD Combo sell signal and a 13 for completion requires a close higher than Tuesday's 831.11 close. $RUT prints price projections at 853.12 and 858.15, but I'm already getting a price exhaustion signal. There is a TDST line from July 2011 @ 841.73 so we are close to a logical pivot point. Initial downside target is 740.82 with a TDST line @ 736.58.
DAX is on day 4 of a TDSEQ sell set up and as of today's close is extending a completed TDSEQ, never having a price flip or a lower close after the TDSEQ 13, with a 7212 price target so it could flip and terminate the extending TDSEQ count or complete another TDSEQ set up in 5 days.
Overall I'm inclined to think it could take some more time before the last buyer is sucked in, and before everything is aligned for a downside Wave, but it's getting closer to being well aligned, and already testing the downside upon prior signals.
The weekly counts also indicate one more week is needed before an IT trend shift into the hard to trade Wave 4 (We are in TD Wave™ Wave 3 with Wave 5 price targets about 8-10% above where we are now).
Here's a sample using the $Compx which has a Wave 4 price projection of 2599.86 and a Wave 5 price projection of 3433.46.
Indeed, we may see mere rolling sector weaknesses, and comparatively minor overall downside moves in the averages.
So maybe a roll over now around the 3/16 Bradley peak, but the new moon on 3/22 or the planetary aspects hitting on 3/23 might be a better fit for the current patterns in the charts. A price flip, i.e. a close lower than the prior 4 closes across the averages, would be confirmation that an IT is in.
Good trading to all.
