SPDR S&P 500 (SPY)

[Fox13]

Hi Dan and Gleno.
I have been working on a weekly Qs chart. It fills a much needed gap… and is a variant of one of my posts last summer. Large cycle = 99 wks. Troughs are well aligned, by wks of: 10/11/02, 8/13/04 and 7/21/06. The N/2 cycles are not ok, so I don’t use them. In contrast the next shorter cycles (N/4=24 wks) are Ok, but slightly out of phase with the large cycle. The target zones are determined by the slow and fast fractals. It looks like the previous targets on the way down were also congested zones, while the last one opposed no resistance, as the down trend was helped by a gap. Da next magnet could be 40.26 , suggested by a 3x bowtie and inflexion points, from 10/06. If it is reached in a few days, we migh get a corrective uptrend and finally, a big down into the trough of the long cycle (wk of 6/13/08). fox