Delayed Report
I ran the calculations and projections for the SPX and then left my memory stick and my girlfriend's house. It's a long drive so I'll have to try again this weekend.
Anyway, the rally in the US dollar, 10yr US bond, German Bund yield below 0%, and relative strength in the US stock markets relative to DAX and FTSE indicate a panic rotation is taking place.
My cycle model was calling for a MUCH stronger sell-off in equities with the amplitude of the 20 week cycle being 125 points. Just as the 20 week cycle rolled over, some very strong, short term money came into support Western markets. Maybe this was a last ditch effort so friends could sell the rally. Maybe it was to manipulate the BREXIT referendum. This force is in the 20 - 34 day cycle range. IT is so strong that it has been picked up by the 20 week filters and appears to thwart the 20 week cycle's down-phase. The 20 week cycle is still heading lower. We just can't see it clearly. The growing violence and support for BREXIT are indicators of the same strength of emotions which drove the markets lower in January and early February this year.
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