Last week I was telling you the bias was up. I believe the Nasdaq actually closed up for the week? Well, the only constant in the market is change. As the 34TD cycle tops over the next couple of days the bias will become neutral and later in the week shift to down. So on 08-29 we should have the 34TD and 11.2TD cycles topping. The 2.8TD and 5.6TD cycles are bottoming. The 22TD cycle remains up for about 1 more week.
Of the longer cycles the 67TD (65-70TD) cycle is down and the 20 week (Wall cycle is up). Any upside bias (if any) should be fairly muted. So Monday should trade sideways (may get into low 1190s and sink into mid 1160s) during the day.
Here is the swing cycles for the SPX:
GL traders, don't get greedy.
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