Rule-Based Trading Systems

[northam43]

SPX Weekly cycle:

Last week the SPX weekly cycle Phase I hit a low of 1055.9

That could be the cycle low. However, at this point the weekly is still below the lower trend line. So a new low is still very possible. When the price rises above the lower trend line, then the probability of a new cycle low will diminish.

This is the 3rd week of this weekly Phase I cycle. The average weekly Phase I is 6.5 weeks.