MM Weekly Preview - Market Analysis for Dec 6th, 2019

By Dr. Cari Bourette

Dec 6, 2019 - 12:36 PM EST

In spite of the b waves, diagonals, and contortions of the daily mood this week, the weekly chart continues to look right on track, and continues to point to a corrective decline over the next few weeks. Also, the flat region showing in the chart for next week is signaling a Sharp Drop Alert.

The momentum indicator continues to track the market incredibly well, and reflects the expectation of a downward corrective move following this week. The weekly MM MACD (not shown) continues in neutral territory (unconfirmed sell in an uptrend), and the weekly trend indicator (not shown) continues to read strongly bullish / topping.

The preliminary charts below assume no substantial changes to the underlying data between now and 4:30pm:

Dr. Cari Bourette is an analyst at ElliottWaveTrader.net, where she provides her proprietary market mood analysis in our flagship service, "Avi's Market Alerts."

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