S&P 500 Primary & Weekly Cycles
Next week's Weekly highs at 3153 will be a massive resistance level to begin with, and if it does go as high as 3153, there will be lot of shorter's trying to push it back down into 3007 and the Yearly 50% level.
It will be the week after next that we decide if S&P 500 is back into a BULL MARKET Trend (above 50% level) - previous report
We saw a lot of selling this week, but not enough to turn us into Bears, even though the economy is awash with extremely negative news
Unless it's below 3007 the bias is up towards the 2020 highs, which matched the 3 month highs in July.
Do I want to be BUYing the market here?
Not really, because it can turn quickly and be back down to the 2020 lows at 2637 in a blink of an eye.
