I updated the SPX cycle here. The recent pullback is now 19 days old when on average a pullback has lasted 24 days since the last bull rally that started 2009.
An average pullback from last high to low is -7,97% and now the pullback is at -8,48%. In other words, the “bearish cycle” should now be close to complete.
“Extreme pullbacks” since 2009 have been -10% , -12% , -13% & -18%.
Averages, cycles and Elliott Waves are nice but there is no such market as the average market. However, I think we should start looking for positive market signs and “buy the dip”. We got one positive sign last friday but that is not enough.