In 2020 the Yearly had a range of 1568.34 points, the low was 2191.86, which was 318.48 points below the Yearly UTL. It closed the year at 3756.07.
In 2021 the Yearly had a range of 1146.22 points, the low was 3662.71, which was 769.27 points above the UTL. It closed the year at 4766.18.
This year (2022), the Yearly so far has a range of 1112.94 points, the low currently is 3705.68, which is 491.38 points above the UTL. If the SPX continues on down to the Yearly UTL at 3214.30 before the end of the year, the range will be 1604.32 points.
My definition of a Bear Market is when the Yearly enters Bear territory, which won't happen until the SPX drops below 3214.30. So I am still following Bull Market rules.
If the SPX goes into a Bear Market (based on my definition), I will then only add UPRO when a 60-SC-1 is confirmed and I will only be able to add 2 UPRO positions during a UPRO Bull Cycle. The 60-SC-2 (instead of the D-SC-2) will become the buy signal for the SPXU, and I will only be able to add 2 SPXU positions during a SPXU Bear Cycle.
It's possible we could get below the 3214 level by the end of the year, but I doubt a Yearly Bear Cycle gets confirmed next year, as it will have to stay below the 3214 level until the close of 2023 to get a Yearly Bear Cycle confirmed.
