SPX Analysis by @jbcycles

The analysis suggests the market is currently at a cycle top, projecting a bearish outlook for the upcoming weeks, an ABC correction formation could happen soon, with bearish signs for the coming week. While cycles are a bit out of phase. The yellow line, representing recent cycle averages, also points towards a bearish trend. Historical data indicates the market is overbought, needing a correction below the 20-day moving average. Wavelet analysis implies potential pullback, with scenarios for a double top or topping formation, despite VIX wavelet projections hinting further upside. The number of days above the 20-day moving average is historically high, suggesting a need to drop below it, and the price should drop at around 4792 during the next 12 months. These technicals point towards possible bearish trend for the SPX.