Timing Factors Provide Heads Up On SPX Low
Carolyn Boroden identified both timing cycles and key price support on the daily SPX chart pointing to a possible low last week.
The timing factors pointed to July 14-15 for a possible low, which was actually made on the 14th. The actual low (at 3721) was 4 points above the high end of her support (at 3717).
What followed was a 290-point rally off those key parameters. "What was key in this case are the timing factors that gave us a heads up that the decline could be terminating!" Carolyn explains.