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[blustar]

The 128 Trading Day Cycle top is now 131 days along today and the 64 day cycle top is now at 66, so we are a bit extended here. Generally, you get 5 days down into a 16 day cycle low when topping. I believe Thursday this week see a test of 1282 and Wednesday will be the big down day this week. The 128 day cycle low is due around March 3-9 where we could see a bottoming formation surrounding the new moon. I believe we test the low 1220 SPX area by that time. A snap back rally should occur from Feb 22 to around Feb 24, with that Wednesday being a huge up day, then we go down. We are in the area of the 9 month cycle low and running 8 months is typical. The real test will be later this fall where we should have a nasty bear, but suffice it to say, my read is not so bearish right now, at least as it was. I'm looking for a test of SPX 1440 by mid May.