| | | Today it looks like we will get the extreme overdue large SPX Daily Bear Super Cycle (D-SC-1) confirmed at the close. The good news is the low was due Monday (2/28/22). The projected low is 4153.75, which was exceeded 2/24/22 at 4114.65. The average D-SC-1 lasts 13.61 trading days. So if it gets confirmed today the Daily Bear Cycle will be in it's 14th trading day tomorrow, meaning the D-SC-1 could be ending and the next cycle has to be a Daily Bull Cycle (D-S-2, D-2 (Extreme Overdue), D-E-2 (Overdue) or D-SC-2), D-S-2 projected high 4252.85, D-2 4261.72, D-E-2 4433.30, D-SC-2 4551.54.
Right now the cycle indicators are out of sync with the price projections at the D-S-2 & D-2 levels.
The Daily MACD (12,26,9) is currently about 58 pts below the zero line, so a D-E-2 or D-SC-2 are not likely during the next Daily Bull Cycle, because they require the MACD to be above the zero line to get confirmed
So to get the indicators and price projections back into sync we will need a short Daily Bull Cycle (D-S-2 or D-2) that will reset the Daily Bear Cycle projections and then a short Daily Bear Cycle (D-S-1 or D-1) to reset the Daily Bull Cycle projections, then hopefully the cycle indicators get back into sync with the price projections.
Also there is a possibility that we can get the overdue Weekly Extended Bear Cycle (W-E-1) confirmed at the close on Friday. This could be either good news or bad news. The bad news is, if the W-E-1 gets confirmed the projected low is 3719.72, the low will be due 3/25/22, so there is the possibility of another large drop. The good news is, if the Daily D-SC-1 can continue until the close on Friday and the SPX can close Friday below the 4340/50 level, the W-E-1 could get confirmed and then both the Daily & Weekly could head for new Bull Cycles, right now there is support for that to happen at the 60 min & Daily levels. That could take the SPX up to the 4500 level by the end of next week. |
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