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<p>The Risk Rhythm

We are still in the window for a bottom on the 40-day cycle. The SPX got a confirmation out of the Oct 16 low, but the Nasdaq did not. A secondary low can happen, and then re-trigger the bottoming process. 

Despite this, the price action is not favorable to a large move higher. It looks more likely that we have to wait until the 120-day cycle bottoms in mid-November before we get the next decisive move higher into the end of the year.

$SPX $SPY $NDX $QQQ</p>

The Risk Rhythm
We are still in the window for a bottom on the 40-day cycle. The SPX got a confirmation out of the Oct 16 low, but the Nasdaq did not. A secondary low can happen, and then re-trigger the bottoming process. 
Despite this, the price action is not favorable to a large move higher. It looks more likely that we have to wait until the 120-day cycle bottoms in mid-November before we get the next decisive move higher into the end of the year.
$SPX $SPY $NDX $QQQ

The Risk Rhythm We are still in the window for a bottom on the 40-day cycle. The SPX got a confirmation out of the Oct 16 low, but the Nasdaq did not. A secondary low can happen, and then re-trigger the bottoming process. Despite this, the price action is not favorable to a large move higher. It looks more likely that we have to wait until the 120-day cycle bottoms in mid-November before we get the next decisive move higher into the end of the year. $SPX $SPY $NDX $QQQ

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