Replies to post #65 on S&P short term cycle swings

[dapro]

I have heard that next support is around 8550 area. Let's see what happens

[SyndicateTwo]

I can't believe it because the $NASI summation chart above is screaming a move higher. But this chart agrees with you and you can't deny it:





This chart makes it appear that we're about to break down from the clear rising wedge being made at the lows. However, the good news is that if you're a trader, this is a great setup because if it breaks down, it will be fast and a clear 5th wave. I counted wrong before thinking that the 5th was the decline to 7800. But it's not if this holds. So, a new low probably around the high 6's appears to be in sight.

Ouch. And in Nov? Wow. Looks like many more hedge funds need to force sell.