CTL break

Been a while since looking at the SPY Stevenson cycles.  Interesting development in that the Cyclic Trend  Line Has been broken (and back-tested).  In Stevenson work this signals an end to the prevailing cycle (in this case a long-standing Inverted Cycle) and the beginning of its complimentary (Regular) Cycle.

a closer look at the throw-back to the CTL

not much has changed

In terms of the current (weekly) inverted cycle.  398-weeks off the lows into the most recent all-time high.

Andrews Median Line

Interesting pitchfork confluence in some issues.
SPY sitting at upper median line

 XLF - been riding the lower median line for quite a while, now throwing back

 IWM - two failures to break UML

QQQ - on a strong trajectory

DIA - 3 successful bounces at lower median line

Here's an updated look at the SPY cycle count

Dow Jones Quarterly long term

higher high

you know what that means!  Have to re-draw the on-going cycle count.  And, again, we're nowhere near the CTL (Cyclic Trend Line in fuchsia) which means the inverted cycle is still very much intact.

cycle count

SPY cycle count

potential target objective being the blue vertical line
I didn't mean to insinuate that the next cycle was down.  Rather, that if we broke down that would be the target.  Should we work towards an upside breakout I will update and include the upside target.

Mon 08_13

Just a chart of the SPY with overnight range (fuchsia) and opening swing (teal).

As an aside, here's a look at the recent SPY cycles.  Very symmetrical with the Regular and Inverted cycles being of nearly equal length (about 1 trading day as there are 26 15-min bars/day).  The coil continues.