S&P 500 Index, 70-year Cycle!
Just as you see and you may have already noted this if you had checked the history of SPX chart, the progress of this index from the year 2000 to here is amazingly matching the PA of 1929-1959.
Momentum of the moves are remarkably similar, as well as current location inside the channel (almost middle) compared to the relating time at the last occurrence of fractal.
Considering all the similarities, it will be fair enough to expect the remaining part of the fractal (1959-1974) to play out with high probability and even the 1974-2000 part if the channel holds at the upcoming test of it's bottom (will be 1939 by exact calculation, but the move may not match very precisely).
The whole move from 1929 to 2000 has taken a little bit less than 71 years, approximately 70 years or 2600 days.
We have plenty of reasons for markets to move in either side, but talking about them is not my purpose in this idea.
This was a view about the chart of SPX which I wanted to share.
Momentum of the moves are remarkably similar, as well as current location inside the channel (almost middle) compared to the relating time at the last occurrence of fractal.
Considering all the similarities, it will be fair enough to expect the remaining part of the fractal (1959-1974) to play out with high probability and even the 1974-2000 part if the channel holds at the upcoming test of it's bottom (will be 1939 by exact calculation, but the move may not match very precisely).
The whole move from 1929 to 2000 has taken a little bit less than 71 years, approximately 70 years or 2600 days.
We have plenty of reasons for markets to move in either side, but talking about them is not my purpose in this idea.
This was a view about the chart of SPX which I wanted to share.
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