The Bulls just lost 12 points with the 60 min Bull ending in 60-2. The 60 min level is now in the red by 8 points, the Bull/Bear strength meter is in the red 40.63%.
That means Bear Cycles need to get confirmed, the big Bear Cycles point wise is the 60-1 (8 pts), D-1 (15 pts), D-E-1 (9 pts), D-SC-1 (21 pts), W-1 (13 pts), M-E-1 (9 pts), M-SC-1 (12 pts), & Q-SC-1 (15 pts).
Right now the only ones that need to get confirmed is at the 60 min & Daily level, the Weekly is due for a Bear Cycle in August, the Monthly is in M-E-2 territory, so it could be a long time before it's next Bear Cycle.
Bottom line: If we get the Daily D-1 & D-E-1 out of the way, the SPX coud go to new ATH before the end of the year.
Right now the end of the year projection is 4751.09 (based on all year cycle averages) to 5507.37 (based on current year cycle averages).
