A simple sine wave overlay on the S&P Stochastic RSI has been timed almost perfectly for a year and a half.
The period is about a month long.
Notice the "short circuit" between peaks during November 2014 and October 2915.
First half of each month has been bearish; second half of each month has been bullish.
The S&P topped in June 2014, not May 2015, when variance in the international value of the dollar is considered. It should continue lower until the end of this year. It is interesting how this correlation has remained in straight channels up and down since at least the early 1990s.
Any correlation that produces straight lines interests me. This one is intriguing. You'd think that if the dollar is up the market may be that much more down, but not necessarily so.
The dollar was strong in 2000-2001 and again now, but not so much in 2007-2008. But dividing the S&P by the dollar index produces a perfectly straight line through all 3 tops.