12-08 mid week cycle update

I told you in my weekend post:  "I anticipate we will get new highs.  I do not expect the market to contine up as strong as it did Wed-Fri of last week."  Check, up but not a lot of strength and we set new highs.

Not much has changed  - continued attempts to the upside and probably new highs.  Be skeptical of those calling for 1280-1300 by year end.  It could happen, but from a cycle view it seems unlikely.    By early next week the 22 day cycle tops and by the end of the week the 34 day cycle should be near a top.  For now the bias is up.  By mid-month the bias should change to down for at least a couple of weeks.  Remember we are looking for shorter swing cycles we can trade .

Here is an current chart for the SPX:

Remember - always do your own analysis - this is only a check on that analysis and should not be the sole reason to enter/exit  a position..

NOTE: added updated chart to OIL post.