The boldness of the bulls after just a few days of a low volume rally is simply staggering. Whether the next decline starts this afternoon or next week, or in concert with the
Cardinal Climax, it just doesn't matter. I am re-posting this Weekly SPX chart as a reminder of where we have come from and are likely going in the not-too-distant-future:
SPX Weekly
By design, my shorter-term trend models will only kick in on the downside after the next wave down gets going. Anything from Daily to Intraday is subject to market psychology and manipulation, but they are still tradable for anyone with the stomach for it.
Below, the past ten years for clarity and contemplation:
SPX Monthly
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