MarketMood Weekly Outlook: Watching For A Flip


I've been watching for a flip to kick in on our weekly MMI.  Without it, the weekly chart is pointing down through the first week of September.  With the Daily MMI pointing up through end of week, that raises the possibility of the flip from down to up in progress this week.  IF the market can close the week out with an upward trend change, then I will consider the weekly flip to have occurred.  Below is the latest daily chart, the new weekly chart IF the flip is confirmed, and the weekly chart if no flip is confirmed.  I'm going to have the flip up version as my base case unless the end of the week market movement tells me otherwise.  

Daily:

New Base Case Weekly with flip:

Previous Base Cases Weekly without flip:

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."