Market Refresh Coming: Update!

Update and Targets to Our Time & Price Forecast

In our previous discussion, we observed that the market was completing the Daily Buy Signal this week and set a final target of $SPX 6,070.

Today, the market surged to 6,059—only 11 points shy of our target—before reversing and declining steadily throughout the day.

It closed at 6,022, 6 points below Pivot.

With the first Daily Close below Pivot and the market nearly hitting our 6,070 target, what does this suggest?

Could this mark the top, or is it merely a minor pullback to ease overbought conditions?

Let’s get into the details…

Let me start by pointing out that the Daily Buy Signal hit Day 12 today and is unfolding as anticipated.

In our last discussion, I suggested there might be a couple of days remaining with the Signal, but it’s unlikely to last the full week before transitioning to a Daily Sell Signal.

I also noted that an ideal shift to a Daily Sell Signal would occur by Wednesday—today.

It doesn’t seem coincidental that the market may have reached both our Time and Price targets for the Sell, missing the target by just 11 points on the exact day mentioned.

With that in mind, let’s dive into what might I think happens next.