Chart Ideas

[SilentOne]

$SPX Hurst

Today was likely a 2.5 week low for the $SPX (count 12-14 trading days from last low). A 10 week low is due later in May. While the larger 20 and 40 week cycles are pointing up, the 18 month cycle is now pointing down. So I would expect a choppy market as the market slowly tops out here in the coming weeks. Commodities (oil, copper, gold, silver) are leading as are emerging markets. The Toronto market is not healthy either.