Stock Market - S&P 500 From Tuesday: "The only two things missing are a hard close below the trend lines and a down red arrow which would suggest an Intermediate Term trend reversal down. The DJIA has already generated its own red arrow which we acted upon as per Saturday's Weekend Update." The red arrow has appeared on the S&P Daily bar chart, but price has yet to provide the hard close below the trend line. That makes the close today and or tomorrow a key revelation for the near, if not intermediate term trend. As for defining "hard close," any close below Tuesday's low, 4435, should do it. Bitcoin - Two Week Cycle Low Bitcoin is moving toward the Sep 20th ( next Monday) two week cycle low. Price has fallen from a high of 52,945 at or near the new moon high to a low of about 44,950 on Monday Sep 13th. It has recovered to about 47,600 today. The cycle is not perfect, but has been accurate within a day or two of the new moon highs to full moon lows. Is it useful to traders or accumulators of Bitcoin? So far YTD, absolutely. MARA has fallen from the mid-40's to mid-30's in the past two weeks. Again, its timing is not perfect, but close enough for near-term calls and puts. Bottom line: A Bitcoin two-week cycle low is due between tomorrow and next Tuesday. Bitcoin Short-Term (Hourly) MARA Intermediate Term (Daily)
