SPX cycle update:
On the Daily chart, the upper trend line(UTL) price has now dropped from 1174.22 to 1165.47 a drop of 8.75 points in two days. If this continues on Thursday the UTL will be around 1157 and on Friday it will be at 1152.
I still believe by Friday the SPX Daily may hit the UTL and then go lower. That would then start a new Daily cycle and it could then push the weekly to new cycle lows.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."