SPX Cycles Long Range Projection Chart. Once again the Weekly closed the week in bear territory. For the Weekly Bear Cycle (W-S-1) to be confirmed, the Weekly must remain below the Weekly UTL (currently at 4473.51) until the close on Friday (8/25/23). If the W-S-1 is confirmed the projected low will be 4349.85, the low will be due Friday. If the W-S-1 gets confirmed, the Weekly Bull Cycle projections will be reset, this means the Weekly Bull Cycles could go much higher. With the Daily D-SC-1 getting confirmed today at the close. The SPX Daily level is currently bullish by +12 and the 60 min level is bullish by +18.
The last time the SPX had this set up was back in Sept 2020, the Weekly was in a W-E-2 (as it is now), the Daily confirmed a D-SC-1 followed by the Weekly W-S-1 that only lasted a week, then the Weekly confirmed a new bull cycle (W-SC-2) that lasted 53 weeks. The Weekly W-SC-2 is currently extremely overdue.
Bottom line: September could be a very explosive month to the upside with a new Daily & Weekly Bull Cycle.
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