SPX Cycles

[northam43]

Right now we are in a Weekly W-1 (Extreme Overdue) projected low is 4185.96, we are currently in the 4th week of the W-1, the average duration of the W-1 is 4 weeks. So from here the Weekly either confirms a new Bull Cycle (W-S-2) or continues downward to a W-E-1.

A Weekly W-E-1 (Extreme Overdue) could be confirmed as early as 10/20/23 with a projected low of 3533.63, the low will be due 11/24/23.

It's very doubtful that the W-E-1 will get confirmed next week, because the Weekly MACD (12,26,9) is well above the zero line.

Right now the Weekly price is at the lower trend line (LTL) above the LTL usually indicates it is headed towards the upper trend line (UTL) which if hit will confirm a new Bull Cycle.

With the Daily D-E-2 & D-SC-2 both extremely overdue, I doubt the Weekly W-E-1 gets confirmed during this Weekly Cycle.