• 776 days Will The ECB Continue To Hike Rates?
  • 776 days Forbes: Aramco Remains Largest Company In The Middle East
  • 778 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,178 days Could Crypto Overtake Traditional Investment?
  • 1,183 days Americans Still Quitting Jobs At Record Pace
  • 1,185 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,188 days Is The Dollar Too Strong?
  • 1,188 days Big Tech Disappoints Investors on Earnings Calls
  • 1,189 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,191 days China Is Quietly Trying To Distance Itself From Russia
  • 1,191 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,195 days Crypto Investors Won Big In 2021
  • 1,195 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,196 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,198 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,199 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,202 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,203 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,203 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,205 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

The State of the Trend

The bounce we were expecting a couple of weeks ago arrived on schedule and marked exactly the half-way point (price and time wise) of the December '15 - January '16 down swing. From the January 20th swing low the SP500 has advanced 270 degrees up just like it did in August and September '15, and is trading below resistance at 1947. February 1st is a short-term CIT date and we expect a sideways/down move to follow:

S&P500 Daily Chart

As long as the index doesn't retreat below 1880, and the 1 x 1 angle from the January swing low, it will remain in a strong position and the current upswing is likely to continue.

Looking at the long-term cycles, we find an interesting phenomenon occurring during the first week of March: two different cycles, connecting weekly swing highs and lows, converge in that week and, in our estimation, should produce an important CIT.

S&P500 Weekly Chart

Currently, there are two obvious price targets for that period: 2040 to the upside, and 1820 to the downside.

 

Back to homepage

Leave a comment

Leave a comment