The current upper cycle excursion has lasted from late March. The daily signals weren’t all that important with the lack of price action. FWIW, today was xFC. xLH is not a mechanical buy, weakness tomorrow will make the signal x00 which is a mechanical buy.
This down move out of extremely low volatility could be quite sharp.
SPY was 20% above 350, near the current 52 week SMA. A visit to that level would not be extraordinary. A move to 400 here makes the rectangle in play, and 370 is just the 10 week low. Always something to worry about.
