xjo weekend zoomba lounge, page-30

A few thoughts.

I suggested 1st or 2nd trading day in July on SPX was likely a trend change as was April/May and June.

It was 2nd trading day as circled like other black ones on the daily SPX chart.

Now the green and red circles on Slow Stochastics indicate bull(green) and bear(red) trend indications IMO.

This is based on the observation that bull trends have higher momentum highs and higher momentum lows and vice versa for bear trends.

Yes, sometimes it gets confused and sometimes it is indefinite.

Best wave count is this pullback may be just 2 of 3 so stronger upside ahead.

When we look at weekly momentum based on SS I have left some unmarked because they were borderline.

This recent top I have marked red (bearish) but it may not have completed its upside so can't really count it yet.

I may as well do monthly.

Once again it looks bullish BUT we need to see where this turns up.

The multiple cyclical patterns suggested up from late June at the latest and we got it.

In the near time various models suggest choppiness but mostly upward into late July and then more powerfull up move into mid July to mid Sep.

There are reasons to be wary for another week or even two out the outside.

Some pundits I respect suggest the rally is done right here so I watch for levels that prove them right and me wrong.

I suspect the SPX 1340ish level is now support for me and below 1295 very bearish.