• 11 hours Ireland Balks At Biden’s Global Tax Plan
  • 3 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 7 days Facial Recognition Is Watching You
  • 8 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 8 days The Fed’s $3 Trillion Headache
  • 11 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 12 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 12 days Delta Variant Real Threat To Economic Recovery
  • 15 days JEDI Drama Continues With Microsoft Contract Cut
  • 17 days DiDi Shares Take a Beating From Chinese Regulators
  • 18 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 19 days Jobs Report Has Big Numbers, But Still Big Problems
  • 19 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 23 days Didi Just Went Public, And Uber Is Loving It
  • 23 days Islamic Finance On Track To Hit $3.7 Trillion
  • 25 days The Lumber Bubble Is Bursting
  • 28 days A New Entry In The Two Trillion Dollar Club
  • 28 days 3 Upcoming IPOs To Watch As IPO Market Rebounds
  • 30 days Welcome To The Used Car Bonanza
  • 31 days The Year Of The Retail Investor Keeps Getting Bigger
  1. Home
  2. Markets
  3. Other

The State of the Trend

The SPX closed 1% above our 2017 year-end high target posted here on January 1, 2017. Throughout the year, the index followed closely the 1 x 1 angle, and changed direction at anticipated cycle turning points.

Year 8 of the decennial cycle is mostly bullish with a notable weak 30 year cycle. 2008 offered the most extreme example of such weakness.

The bullishness of years ending in 8 has to be tempered by the fact that this is the second longest rally on record in the last 120+ years. And while there’s no law prohibiting the current rally from becoming the longest on record, the odds of a sizeable correction increase with each passing day.

To help guide us through the rest of 2018, we’ve prepared the chart below, including yearly pivot lines (horizontal lines) and cycle turning points (vertical lines):

By George Krum

Back to homepage

Leave a comment

Leave a comment