Definitely appears the 22 day cycle topped and turned down. We now have multiple sell signals triggered. The 34 day cycle should top next week triggering one more sell signal. I would expect the next few days to continue to show a downward bias. Probably will not get the 2% down this week I thought we might when I posted my weekly outlook, but one decent down day could still give us that.
This will not be some "huge" sell down but a tradable swing cycle.... Let's see how it plays out before we make any crazy predictions. If we get to 1220 S&P let's see where we are within the cycles before we start looking for lower levels.
The 45td (trading day) cycle will bottom soon, but this cycle has not shown much amplitude since August so I am unsure if this will have much impact. Time will tell.
Here is the current chart (SPY):
gl traders, be sure to do your own analysis and use this as input into that process.
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