S&P 500 Primary & Weekly Cycles.
The S&P 500 has completed the Primary Cycle break and Extend pattern from the 2017 highs and into the 2018, as described in my books.
Everything is driven by the Primary cycle. Understand the Primary Cycle and you're well onto you way of doing extremely well in the market.
Now I believe the Stock Market is still in a Primary Bull trend that's going to last a few more years, so we still want to BUY the dips.
That Monthly BUY zone is 2703.
However, BUY zones become far more riskier if it's going against the Primary Trend
Therefore you want to see a 5-day pattern come down into 2703 and then the following week begin to rise up during the following 5-day pattern (read the book)
Because a reversal Primary trend from a completion pattern (BREAK & EXTEND) can often go looking for it's 50% level, and that 50% level is a lot further down @ 2575
The known pattern of Buying monthly support resides at 2703, but the risk has increased because of the Primary Cycle
