S&P short term cycle swings

[SyndicateTwo]

When you combine the Stock Traders Almanac daily projections along with normal high/low swings and fibonacci targets, you get a projection of what each day and week 'should' do.

Obviously news and clear technical breaks will change those somewhat from time to time like last week.

But this week calls for a general up week with today looking prety good along with Friday. The problem with this forcast is that Monday was a large up day that potentially could have thrown everything off.

The goal this week is for the SPX to hold 1260. If it closes on a weekly candle above that level, then the uptrend is intact and we should continue to rally out of this 5th wave. Otherwise, it's most likely we'll trade into 1170 to 1200 again for a intermediate low going into next month.

However, don't get too bearish because there is a monster setup taking place for a bigtime rally and I think it will be led by Semis