S&P 500 Primary & Weekly Cycles
As I mentioned previously, there's a ton of good economic news coming out of the US, and last week's job numbers blew it out of the park.
Manfucturing numbers are up, ecomonmy still strong, and the only thing that seems to spook the markets is, when the FED raises rates.
However, the Charts tell a different story. It's currently in a BEAR Cycle (below Yearly 50% level) with the expectation that the 2019 50% level @ 2956.50 will form resistance and price follows the BREAK & EXTEND pattern in the monthly cycles to 2295.
As we can see, the 2018 lows supported the Market in December and the 2019 @ 2295 lows might do the exact same in the first Quarter (double yearly low), which is a very similar pattern as in 2016.
This is theory should complete the Bear Cycle, as it's not a Crash.
If there is a Crash, the trend will go looking of the 100% range, which is 1962.50.
At this stage, I can't see this happening, unless it's trading below 2295 on bad economic news.
