Over the last few months we’ve left the door open to a spike to the 6100 SPX regionfor a final fling.
Why 6100? Why a top?
The last major low, the bear market low that ended in October 2022 bottomed at 349 (3490).
It was a Time/Price square-out because 349 squares October 13th, the low day.
3 revs of 360 degrees up is 609 or 6100 ish.
3 revs of 360 degrees is 1080 degrees or two cubes of 540 degrees.
609 is one full rung of 360 degrees up from 514 (5140) which ties to the August 2024 spike low.
The next 360 degree rung down is 426 (4260). It was not the precise low in October 2023, but it IS the Breakaway Gap that reclaimed the 200 day moving average in EARLY NOVEMBER 2023.
Here we are 360 days/ degrees from that Breakaway Gap in early November 2023.
Are we getting a Breakaway Gap at a top that represents a Buying Climax?
The March 2020 crash low was 219 (2190)
Remarkably 5 full revs of 360 degrees or 1800 degrees (opposition) is 614 (6140)…also in this 6100 region.
The SPX is set to spike into what shapes up as beaucoup resistance.
Consequently, if it is a major top, we don’t want to jump the gun and short because it looks like this momentum could carry. The 3 Day Rule may play out…a 3 Day Surge…Wham Bam Thank You.
Big picture cycles also suggest a top this year.
From the major 1932 bear market low to the major 1974 low is 42 years.
Adding 42 years to the major 1982 bear market low is 2024.
A Low to Low to High Cycle
From the major secular low in 1949 to the secular bull market top in 1966 is essentially 16 years.
This is because the top came in early 1966…and the low in 1949 was in June.
From our 2008 Primary Low in 2008 + 16 years is 2024.
In addition to Time we’ve got a Measured Move in Price.
From the March 2020 SPX low of 2192 to the January 2022 top is 2626 points.
From the October 2022 low of 3491 + 2626 points is 6117.
Could the top be this week?
Maybe something, maybe nothing but 2626 (the range) ‘points to’ November 7th.
Watch your FOMO.