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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 41.26+5.3%Nov 28 4:00 PM EST
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To: northam who wrote (194606)11/3/2023 5:51:12 PM
From: northam3 Recommendations

Recommended By
#Breeze
da_cheif™
DrO

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SPX Cycles Long Range Projection Chart. Next week there is the possibility of a new Weekly Bull Cycle W-S-2 (due 5/1/24) projected high 4421.17, the high will be due 11/17/23. For the W-S-2 to get confirmed the SPX must hit the Weekly UTL currently at 4393.11. If the W-S-2 is not confirmed, there will be the possibility of a Weekly W-E-1 (Extreme Overdue) getting confirmed on Friday at the close, the projected low will be 3533.63. For the W-E-1 to get confirmed the following conditions have to be met. The Weekly MACD (12,26,9) has to be below the zero line and the Weekly EMA 3 (currently at 4277.22) has to be below the Weekly Lower Trend Line (LTL) currently at 4250.54 at the close on Friday. There is currently a slight possibility that a Monthly M-S-1 (due 12/4/25) will get confirmed at the close of the month (11/30/23). For the M-S-1 to get confirmed the SPX must remain below the Monthly UTL (currently at 4377.86) until the close of the month. If the M-S-1 is confirmed the projected low will be 4030.62, the low will be due this month. So next week could be a big week in determining the long term direction of this market.

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