SPX Cycles 3/4/08

Finessed the white 55 bar cycle in the previous chart, extending it a bit to 56.25 bars which is a better fit going backwards and as it turned out for todays low.

Today's MCO is still only mildly oversold at -136.5 but we could get a bounce higher possibly tomorrow. However, unless is starts from a hard early morning selloff I would suspect the rally will fail with a potential panic decline into 3/7 or 3/10 (yellow and green) CIT dates.

Click to enlarge