LT wave for August 2024

The LT wave was close to perfect for July.

The expected strong period lasted a few days longer than projected and lifted the S&P 500 well above 5600, new record highs. The subsequent weaker period until the 27th brought a significant pullback to 5400. The final days of the month were stronger again, as projected, and recovered about half of the losses of the preceding weeks. Here is the LT wave for August:

A strong period until around the 10th again. And then weakness for the rest of the month, with the possibility of a fewer stronger days in the beginning of the last week.
For newer readers, bear in mind that weakness can also manifest as a sideways choppy phase. This depends on the underlying longer term trend, which can not be seen from those charts (they are detrended).

Normal caveats apply: the LT wave is experimental and purely based on natural cycles, so doesn’t use any market or price inputs. Don’t bet the farm on it.

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