Cycles up to 13 weeks appear to have turned up. The 6 month cycle also should be turning but indicators are less clear. With cycles of up to 13 weeks turning up, there’s room to move to xxxx xxxx xxxx xxxx xxxx (subscriber version only). If the 6 month cycle is also turning as seems likely, then the market should break out xxxx xxxx xxxx xxxx, with a target of xxxx (subscriber version only). The likely time frame would be Q1 2022. However, a stall and rollover at either xxxx or xxxx could lead to a downside resolution. Given the longer term structures, I’m leaning toward xxxx xxxxx xxxx , but have antenna up for any sign of change.
On the third rail chart the market has set up a beautiful head and shoulders top pattern, which may now be forming a second right shoulder. Or it could break the pattern right here. The pattern is perfectly symmetrical in price and time. What does that mean (subscriber version only)?
On the weekly chart, updated long term cycle projections as of October 10, 2021 show targets ranging from xxxx to xxxx for cycles of up to 7 years (subscriber version only).
Long term momentum indicators suggest xxxx xxxx xxxx (subscriber version only). They normally form negative divergences long before price peaks.
On the monthly chart, the S&P 500 the uptrend channel remains intact. SPX would need to end October below xxxx to break the uptrend channel. If the uptrend stays intact, the market could head for a very long term resistance trend at xxxx (subscriber version only).
The monthly long term cycle momentum indicator remains bullish.
These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.