Loading ...SPX Cycle Fibs and Resistance
Added some Fib retrace-ment levels to show where my uptrend channel out of the recent Intermediate Cycle Low may find resistance. I took profits on my SSO position Friday right near the Fib 50% level.
The SPX may still move higher here but I do not expect price to move past my upper red line (perhaps the 200ma may also turn the rally back down).
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Bressert Cycles are a poorly understood but Powerful TA tool
which have been under utilized here at TA Paradise
Each market has its unique beat it marches to.
Surf City is a pro at recognizing these beats and utilizing them for market timing
He uses Classical Bressert mixed with his own unique blend of other TA tools .
He has been posting at the Chartology Forum to great reviews.
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Thanks for the charts Surf. Here’s a weekly view that I conjured. I used SPXL instead of SPX just because..same diff.
https://stockcharts.com/h-sc/ui?s=SPXL&p=W&b=5&g=5&id=p00279353358&a=447414843&r=1456718969542&cmd=print
Tommy, great chart! May sounds interesting for a top. I have not calibrated a High for this Intermediate Cycle yet but I am expecting the next major IC Low in June/July so mark your calendar to see if I am right.
I plan to narrow down the timeframe as we get closer.
Stay tuned.