SPDR S&P 500 (SPY)

[Fox13]

Gleno. I changed colors of the same chart, as you suggested.
Also, some explanations of what I am doing:
- The at the bottom,the arches represent time cycles. They are not symmetrical, but sometimes "translated" to the right, in bull markets.
- In green, you have an envelope to a moving average which is adjusted to a "significant" cyle.
- In red, you have a Keltner channel which moves inside the green envelope. Thus, it tells us wht smaller moves happen within a larger cyclical move. As you will notice, they are both displced in time, according to J.M.Hurst. That is why thy do not come all the way to the present, but they fit so nicely on top of the price action.
- In dark blue, we have "FRAMA by Elhers": it is a fractal moving average, which, in contrast to the previous ones, is in real time. As you can see, this marvel of modern maths is sometimes flat although the price moves, but some other times it performs abrupt or "fractured" moves. Ehlers described his product as "non-ambiguous". I use it as an indcator for an active trough of a time cycle. This is why, my charts are heretical, and probably unacceptable to the guardians of the Hurst faith.
- The congestion zone is also a double top.
- The target zone and the "final" resistance which were aproximated by fractal projections, were ok but not perfect.
Drawing is not a science. Hope at least to make it clear.