ES: Cycles argue for a downturn next weekLooking at the cycle from the high to the primary low in February, we can see that if we extend the cycle turns they do a pretty good job at picking inflection points. Furthermore if we take the timespan from the high in January to the low on 23rd March (depicted in orange cycles on top) we can see that the length of time for the impulse lower is almost exactly equal to the length of time of this correction higher from the March 23rd lows. Very good symmetry arguing that we have seen the interim high and that ES should be heading lower into the next cycle turn in Mid May.
