Major ICL's roughly every 95 bars (TD's) since 2015. Significant Cycle Lows (ICL's) Sep 28, 2015, Feb 11, 2016, Jun 27, 2016 (notice the symmetry). Next ICL projected for Nov 8, 2016. The current structure since the ICH in early Sept has been very corrective (lots of overlapping bars, "rolling chop" and lackluster sideways action). The previous ICL in June (Brexit) was "binary". A long sideways to higher chop until a 2 day "mini crash" into an ICL. The rally to all time highs confirmed the structure. (i.e. notice the strength of the market in the first 5-10 TD's out of an ICL). The projection for this upcoming ICL and rally to ICH (mid Jan 2017) is simply extrapolated via a simple trading channel. Roughly 230-232 SPY (2300 SPX).
