SPI Primary & Weekly Cycles
As you know I've been bullish on the markets with the expectation that the trend continuing to move up into new highs until 2020-21.
This is based on the 2016 lows and then the trend continuing higher using the Primary cycles for an initial two years (2018 highs) and up to 4/5 years (2020-21). There's also a ton of good economic news coming out of the US atm.
However, the break of the October lows and now trading below the 2018 50% level, suggests the trend will continue down into the November lows (Weekly cycles bearish)
We can also see the Quarterly cycles bearish (below Yellow), whereas earlier in the year they were support.
This now sets up the market being below the 2019 50% level and BEARISH PATTERNS that will go looking for 100% targets to the downside.
If you read the S&P 500 Report, the Primary Cycles are still bullish, but the same bearish patterns are aligning.
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