Tag Archives: weekly cycle

S&P 500 Cash Index Cycle Location 05112018

Last week the S&P 500 cash index marched to pass 2717, which is a prior swing high.  It closed firmly above 2717 as well.  This action took place on the 5th weekly bar of the weekly cycle which was started on 04/06/2018.  So the cycle location is much clearer now.  

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DOW the Laggard

While NASDAQ has taken out the Jan 2018 high two weeks ago, S&P 500 cash index just registered a weekly buy signal, the DOW is lagging behind.  The daily DOW index is tightly contained in a triangle.  The divergence between DOW,  NASDAQ and S&P 500 is reflecting the deep concern of the trade war.

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The Low is In with a New Daily Cycle


Today the S&P 500 cash index took out the previous day’s high and closed above it.  Not only it closed above the previous day high, it also closed above the weekly and monthly pivot range.  The strong close implies that the daily cycle low is in place.  This daily cycle finished in 14 days, which is relatively short in cycle length. 

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S&P 500 Cash Index Location 02162018

The S&P 500 cash index closed on Friday right inside the resistance zone of 2700-2750 as we previously blogged.  It closed below the daily pivot zone, but above the 3-day pivot zone and weekly pivot zone.  The close on Friday 2/26/2018 indicates it is meeting temporary resistance as we expected. 

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The Market Has Gone Up in a Straight Line

The market took a drastic turn on the upside since the beginning of the year.  It has defied a lot of conventional methods of technical analysis; it basically just went up like a straight line.  This is a very unusual market condition that only happens maybe once a life time. This is called vertical market condition

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