1. All markets have a cyclical nature to them. Some cycles are long while some are short.
2. What I have shown above is ~21 day cycle that the SPX seems to be following. 21 is actually not a random number but quite significant as its a fibbonacci number.
3. As you can see the cycle date was ~dec 9th so if this analysis works then SPX turns around from here ASAP and we get a bearish week.
4. My target is about a 6-7% drop for SPX from current levels by the end of the week
5. Of course like any other form of technical analysis, nothing is a 100% perfect science !
2. What I have shown above is ~21 day cycle that the SPX seems to be following. 21 is actually not a random number but quite significant as its a fibbonacci number.
3. As you can see the cycle date was ~dec 9th so if this analysis works then SPX turns around from here ASAP and we get a bearish week.
4. My target is about a 6-7% drop for SPX from current levels by the end of the week
5. Of course like any other form of technical analysis, nothing is a 100% perfect science !