So far, stocks have tracked the typically bullish month of April within the Decennial Cycle (
Chart 1) and the Presidential Cycle (
Chart 2). The historical tendency according to these two cycles remains bullish for the rest of the month.
However, SP500 is also running into potential overhead resistance based on a potential rounding top (
Chart 3) and/or one tracking count (
Chart 4, gray line). Furthermore, Q2 or Q3 is also a potential time window of a top (
Chart 5, completion of blue [3] or initiation of wave E of the blue [4]).
A new high is required for a better hint of a continuation of the advance from the April 1st low.
