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Author: Lee Adler

Cycle Pressures Build While SPX Maintains Rising Long Term Channel

The market retraced into clustered support but preserved its broader uptrend. Multiple intermediate cycles slipped into down phases, although none have broken long-term rising channels. Short-term cycles remain out of sync and imply continued churning. Early-week action is pivotal because several indicators sit directly on inflection points where failure would trigger deeper declines, while a modest continuation of Friday’s rebound could generate short-term buy signals.

Here are the support and resistance levels, cycle projections, and indicators to watch.