Loading ...SPX Yearly Cycle update
Two charts: First shows the SPX slightly breaching it’s yearly cycle uptrend this morning. Second chart shows a close up of the nearer term Intermediate Cycle, whose uptrend has broken down as well.
Will we see a backtest here or will the decline into the next Yearly Cycle Low just pick of steam here? Any backtest needs to remain below my Red IC downtrend line for this setup to remain bearish.
Time will Tell…
Selling will pick up steam. We will get a “Panic Day” That will be in the major media CNN/New York Times top stories.