S&P 500 Primary & Weekly cycles
S&P has remained above the 2016 support levels without giving a clean indication as to whether the trend will continue higher for the rest of the year because of the lagging effect of the 'Break & Extend Pattern.
In the Short-tern (Next 4 weeks) keep an eye on the trends and set-ups within the Weekly cycles.
We can see in the chart of the right, the zig-zag patterns within each weekly 5-day cycle, as the market moves higher
Note:- If price continues up over the next 5-days price will hit the 2016 50% level, which is seen as a Robust resistance level:- 2000-2006
