Added: A second chart at the close showing price is now back above my Blue IC Uptrend. So this is either an early warning or an FBO. A clear mini wedge has now formed. A close above my Red line should be bullish and a close back below my Blue IC Uptrend very likely bearish. I grabbed a SSO position near mid-day as the rally appeared to have legs but we shall see.
The SPX has broken my Blue Intermediate Cycle (IC) uptrend line this morning which is an early warning sign that the SPX IC may have topped at 2+ months.
We need to watch this closely. Based on Time, I would expect the next Intermediate Cycle Low (ICL) in the April timeframe.
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