S&P Midcap E-Mini Daily Chart Review

Its been a while since I posted the Midcaps and one main reason is that the April peak did not soar to new record highs.

I can’t count that peak as a “Truncated Peak” because it’s just too far gone for my liking besides that, line mode confirms the bar chart as well.

The crash down to the December 2018 bottom still is a great looking zigzag which matches many other indices.

From the 2018 bottom to the April/May top would be a bear market rally but the markets have to confirm it. There are two major price support levels, one at 1800 and another at the 1565 price level.

Being bullish when a potential death cross is just around the corner is not my way of looking at things.

Solar cycle 24 is also ending by 2020 which work more like magnets drawing or repealing prices. The big recession ended in early 2009 when solar cycle 23 stopped and solar cycle 24 started.

It could take 4 more months if one month takes the time of 1 Minor degree wave structure.

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Copper Weekly Chart Review

Copper has started a bearish phase in 2018 which at this point can still turn into a correction. The 2016 bottom could also be a temporary bottom so that the 2016-2018 bullish phase is nothing but a bear market rally.

We can see that copper has had some dynamic crashes in the past with the 2008 crash being one of the steepest I have seen. The 2009 bottom matches solar cycle 24 very well, with the 2011 peak matching solar cycle’s 24 first peak.

I think the ending of solar cycle 24 is drawing copper prices down and when solar cycle 25 arrives copper prices should start to crank up again.

My 2011 Cycle degree wave 3 peak is still valid and no amount of reviewing has forced me to change the 2011 peak.

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