Cycles are a tool and should not be used to the exclusion of other tools. There is always the possibility (high probability long term) that the data will be misinterpreted or a relevant fact over looked. So use cycles to check your analysis, not as the only reason to make a decision. Interpretation is the opinion of the author and may be incorrect and should be viewed in that light.
Less downside pressure than expected as market continued to push ever so slowly higher. Still it looks like a top formed. We should see a mid cycle (40+ TDs cycle) by Nov 17 after a right translated top this past week. I do not expect a large pull back as this is a mid cycle pull back. See prior mid cycles for an idea of the extent of mid cycle corrections (usually 2% or so).
The current week should have seen the topping of the 20+ TDs cycle. If we get a right translated top (past cycle midpoint) we could see slightly higher highs on S&P early in the week. but expect a top no later than Tuesday even in that case.
Bought some RWM on Friday, 2 cent per share loss at close.
11/4 update at the close: So far volatility less than expected, but appears top forming.
Given recent volatility moves in November may be substantial on a daily basis. Over longer periods expect ups an downs to largely cancel over the month of November. I expect November to be good for traders, not so good for investors.
We should be at/near a top to start November. By mid-November the shorter (20+ TDs) cycle should bottom (Nov 17 +/- 1 day). At that point the shorter cycle (20+ TDs) turns up and the longer (40+ TDs) turns down. So they offset to a large degree thru the end of the month and into early December.
I expect we could see around 2% pullback in the month.