Update on the S&P500 6 week cycles: the previous high on September 20th indicated a low to follow some time around 5th October. But as S&P500 faded, on last Monday the 25th, it found major support. This level was the August high - 2480. Buyers came in, broke the cycle and drove prices higher to today's all time highs.
With now Monday 25th Sep marking the new low, the next would likely be at end of October. Now this also means that the cycle high is near. Based on price levels, amplitude, and relative strength I estimate this to be between tomorrow and early next week.
Note that this conflicts with our seasonal analysis. Seasonality (not shown here) over the last 20 years shows that the best 6 months occur from mid-October, in fact 9th October. However the current cycle, broken by the leg higher since last Monday, is indicating a peak from next week lasting until the end of October.
With now Monday 25th Sep marking the new low, the next would likely be at end of October. Now this also means that the cycle high is near. Based on price levels, amplitude, and relative strength I estimate this to be between tomorrow and early next week.
Note that this conflicts with our seasonal analysis. Seasonality (not shown here) over the last 20 years shows that the best 6 months occur from mid-October, in fact 9th October. However the current cycle, broken by the leg higher since last Monday, is indicating a peak from next week lasting until the end of October.