[Update] SPY
We seem to have a bottom on day 26 of the cycle. It's looking unlikely for it to go back down and make a day 33-36 cycle low.
It makes sense this cycle sees a new all time high, since the prior cycle was extremely right translated.
Bears need to top the next cycle early in its life, so a peak in the first ~14 days of the cycle. And then hold that high as resistance.
But a prolonged drawdown or bear market is an untenable situation for the country.
It makes sense this cycle sees a new all time high, since the prior cycle was extremely right translated.
Bears need to top the next cycle early in its life, so a peak in the first ~14 days of the cycle. And then hold that high as resistance.
But a prolonged drawdown or bear market is an untenable situation for the country.
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