As we discussed yesterday taking a longer view using the 34TD cycle is now down 10 days. That should equate to 62.5 points off the top which would put the S&P around 1230. Given the influence of other cycles it is expected that average results will close above (today) and below (yesterday) but the sum of the daily averages of the 34TD cycle (10 x 6.25) will be achieved over time. By close tomorrow that cumulative average will be -68.5 points which is around 1223.5. So we have the potential of a fairly large down move over the next couple of days if the 34TD average is to be honored. It could be tomorrow, but my guess would be on Monday. So keep this in mind in regards to my daily projections.
The 34TD cycle is down (-6.25 pts), the 11.2TD cycle is down (-14 pts) for a total of -20.25 points. The 22TD cycle is up (+9 pts). The 5.6TD cycle tops tomorrow and I estimate will contribute +4 points. The 2.8TD cycle also tops and should contribute about +2 points. This is a total of +15 points. The difference is a projection of down 5.25 points.... Of course, keep in mind we have the potential of a larger down day (over 15 points) when the 34TD average is honored.. So overall we could see -20 points or more tomorrow (1219 area) if the 34TD average is achieved.
Here is the SPX swing cycles (my interpretation):
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