$SPX - Heading towards a 2-year high?
#200 An update on the two-year Mars-Uranus cycle.
As we approach the Mars-Uranus conjunction on July 15, 2024, the market seems to be heading toward a two-year high. The previous Mars-Uranus conjunction on August 1st, 2022, occurred two weeks before the market reached its high on August 16th, 2022.
In addition, Venus opposed Pluto on August 9, 2022. This same planetary aspect is unfolding again on July 12, 2024. Thus, there are noticeable similarities between these planetary aspects, past high and a potential upcoming peak in the $SPX.
The last Mars-Uranus conjunction on August 1st, 2022, marked a significant turning point two weeks later. A low point occurred one day before the Mars-Uranus Helio conjunctions on October 13th, 2022.
Based on Gann Fan lines, which #Gann himself referred to as timing lines, there may be strong resistance at the intersection of timing lines from the August 2022 market high and the subsequent lows and highs as plotted on the chart. All of this adds to the probability that we may see a change in trend soon.
The question arises: will history repeat itself, or will this time be different? I'm not providing any advice, but it's essential to recognize that cycles can contract, extend, or invert.
Note that a 666-day cycle may connect the low of October 2022 with August 9th, 2024. As Gann noted in his Stock Market Course: "August 8th is a very important date for the change in trend, and you should watch stocks that make tops around this date."
Markets can turn at any planetary aspect, and other cycles are unfolding in mid-August that may fit this analysis.
So, it's important to be patient and always wait for confirmation of a peak or a bottom.
“Never consider that a major or a minor trend has reversed or changed until the bottoms of previous weeks have been broken or the tops of previous weeks have been crossed. The number of points that a stock or the averages should decline below a bottom to indicate a change in trend to lower levels varies according to the price at which the averages or the stock is selling.” W.D. Gann Stock Market Course
Thank you for reading. More analysis on this topic will be featured in the upcoming Fiorente2 Newsletter this week. If you enjoyed this article, please like, restack, and follow me.
🎯In case you have missed it, please read my latest posts:
👉Fiorente2 - World Indices Report
Disclaimer: This analysis is intended for informational & educational purposes. It should not be interpreted as a guarantee of future results or considered professional advice. Please take a look at our full disclaimer. (Click on the link)
Disclosure: Indirect positions in the US Indices at the time of writing.
This article was first published on X(Twitter). Click on the link.