Category Archives: Stock Indices

S&P 500 Cash Index Cycle Location

The stock market is currently in a holding pattern after a nine-day selloff via an A-B-C wave structure that produced a temporary high on August 8th.  The current 4-year cycle that started in February 2016 has been nothing but amazingly strong.  During the nine-day selloff

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SP 500 Cash Index Cycle Location

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Topping is a process.  Finally the topping process produced a temporary high on August 8th.  We had originally projected the S&P 500 index top to be around 2478 in advance, the final top was made @2490.  From the June 9th outside reversal top @2446, it took two months

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S&P 500 Cash Index Cycle Location

Third time is the charm.  The market flashed outside reversal days three time, once on June 9th, once on July 27th, and finally on August 8th.  On those outside reversal days, the market made a fresh new high, then promptly sold off to close below the previous day’s low. 

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S&P 500 Cash Index Cycle Location

We were watching the S&P 500 2478 target very closely.  It made a high @ 2477.62 on the 10th day on 07/20/2017 in the 4th daily cycle.  It was also in the 13th week in the weekly cycle, that is well within the top timing band in terms of the weekly cycle.  It’s too soon to tell if this 2477.62 high

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S&P 500 Cash Index Cycle Location

pricentime

S&P 500 and Dow Jones Industrial Average both make a new high on July 14, 2017 while Nasdaq failed to do so.  Nevertheless,  the general market is extremely bullish despite the fact that the important banking sector was left behind.

It is 12 weeks into the current weekly cycle that started on April 13, 2017.  The important target at 2478 is about 20 points away.  We believe the market is going to spend the next few weeks trying to achieve the target, maybe a little over.  But this is close to the end of the rally that started in February 2016.  Tech and banking both failing to move with the general indices is a very important clue of the fatigue, that may lead to a meaningful correction.

We at PricenTime.com view this is a good opportunity to take profits.  We are not afraid to stay in cash when the market is so overbought.  We do hold open positions that are in special situations, which maybe less affected by the general market selloff.  Stay tuned.