I was right about the first part of the day, but we did not get the fade I expected in the second half of the day. So not a great call over all. I expect the next 3 days to see a downside bias (may even get severe). As I have stated before calling the exact turning point is always difficult for the short cycles. It is always possible you have the placement of the cycles off and get a bad read. Still I told you Monday we likely would get an up side push by Tuesday.
We may get a bit more upside in the morning, but we are entering a time period when we could see a hard push down as multiple cycles should bottom together Friday (could be as late as Monday). The 34, 22, 11.2 TD cycles are down (as is the 65-70TD cycle). The 5.6TD cycle should top and turn down tomorrow. The 2.8TD cycle should bottom and turn up. This cycle alignment should result in a considerable down side bias by the end of the day.
Here is the SPX swing cycles:
GL traders, do your own analysis. I bought back some RWM and QID today (was slightly red on my positions at end of day).
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