Technical Trigger Levels, significant technicals. and potential target considerations. 

Potential Market Moves.

Long term weekly (left) currently sitting near TL9, with potential to see more sideways bounce between TL9 & TL10. Dropping below TL9 could see a move to TL8 and the significant technicals – blue s/r zone & long term channel s/r. TL9 and the 34ma (thick pink) could be used as technical trigger considerations (break or bounce). IF we do see support and more lift, a move to TL11 could be possible if the current lifting ‘zig-zag’ continues to expand.

Also consider our MATA indicator on the weekly chart: bounce or break from the current levels may offer clues for the next move.

The daily chart (right) offers shorter move considerations as well as more potential technical triggers.  In general, any of the technicals can be used for trigger considerations, as well as targets, and stops. The general expectation is for the market to move from one technical to the next, on its way to the next market levels. 

Long term potential move for consideration.  We have this possibility starting from recent highs, however the potential move remains valid even if we see another lift first to the next market levels (TL11). In either case we have a possible “A” wave = “C” wave scenario.  Lifting past TL11 starts to diminish the odds that this is what is occurring.