We need a follow through delcine to confirm the Jan 4 Highs.
Tuesday, January 5, 2021
Monday, January 4, 2021
January 4 2021 is our next Time and Cycle High
The SPX gapped higher to fresh All time Highs at the opening 9.30 High at 3769.99 SPX today, right at our outstanding 3760-65 SPX Triangle target we had for many weeks, reversed a sharp 107+ SP to a 12.15 Low at 3662.71 SPX and closed lower, down -55.42 at 3700.65 SPX.
Time CITs: We rallied into the 12/31 Geometric & 1/02 Solar time CIT, suggesting we saw a 1/04/21 High, right at the Open and we saw a sharp intraday reversal and close lower to confirm, closing back below key Fork and LT Trendline resistance at 3730 SPX.
Cycle CIT: The 108 week cycle (see above chart) was due 12/31/20, but has a variance of a few weeks, and may well be today’s 1/04/21H, right at the projected 1/05/21H+/-1.
12/31/20:108 week+/-1 wk Cycle: 8/27/10L - 9/14/12H - 10/15/14L - 11/08/16L – 12/5/18H-2- 12/31/20 +/-1 week.
What's next: We confirm the 1/04/21 swing High and see a continued decline into the next Time and Cycle cluster.
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