Back to 7 with a bounce

With the sp' climbing from 1820 to the 1940s across just five trading days, the bigger monthly cycle is back to outright bullish. However, this is not entirely unexpected, and even if the bulls can hold the mid 1900s... November will turn back to MARCON 6.

sp'monthly9

Summary

*it is notable that despite the current bounce, the Dow, R2K, and NYSE Comp', remain MARCON 6
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Suffice to say, a bounce from the low sp'1800s into the 1900s was not unexpected, and seeing the monthly MACD (blue bar histogram) cycle turn back positive was neither surprising.

Barring a sustained move back above 1970 or so.... the monthly cycle for the sp'500 will turn negative again at the start of November.