I have the SPX on day 6 of a new Trading Cycle. The last TC Low or DCL allows me to now draw my longer Blue 5-6 month Intermediate Cycle Uptrend line. My fist chart shows the SPX wedging to a decision point and the tightness of the Bollinger Bands is signaling a big move is very likely coming.
My second chart shows several blue vertical lines that pinpoint the periods over the past 2 years were we also saw tightness in the B-Bands. Not saying we will see another big drop here but the SPX either needs to break above my red resistance because a close below my Blue IC Uptrend would likely signal the longer Intermediate Cycle has topped.