The market does contain cycles. However they do tend to swing in and out of favor with price action, lets review a cycle that is working.
The SP500 has dominant cycle between 30 and 40 periods, sometimes its 32 sometimes its 36, for the last few months it has been 39 periods. The cycle warns the chart watcher that a peak in price is now. Therefore not a good time for new positions.
"The Tape Reader's profits should develop naturally. He should buy or sell because it is the thing to do - not because he wants to make a profit or fears to make a loss" ~ Richard D. Wyckoff
"Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway" ~ Warren Buffett
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